NTPC Looking for CEO to Handle Distribution Business

NTPC Ltd has started scouting for a professional CEO to oversee its power distribution business where the company plans a big foray in the near future.

The largest electricity generator in the country, NTPC Ltd has announced that it has started scouting for a professional CEO to oversee its power distribution business where the company plans a big foray in the near future.

In line with which the firm has now issued advertisements for the appointment of a CEO asking qualified professionals to apply for the position that will offer best in the industry pay and allowances and provide the opportunity to deserving candidates to run the distribution operations of the conglomerate for a fixed tenure of three years.

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The PSU has plans to expand its distribution business taking advantage of the recent government announcement to privatise such operations in the union territories while asking state governments to also pursue the reform initiatives to strengthen the power sector. It is looking for both bidding for distribution licences as well as acquire prospective companies that have established operations in the segment.

This was after the firm had evinced interest to acquire a majority stake of 51 percent in Anil Dhirubhai Ambani Group’s (ADAG) two utilities. The ADAG has two Discoms in Delhi namely BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL), which supplies electricity to approximately 4.4 million customers. In this regard, the company had written to Delhi Electricity Regulatory Commission (DERC) to inform it that NTPC has decided to foray into the distribution sector and is keen on acquiring the distribution assets in the state.

As per the media reports, NTPC’s move was in the backdrop of few companies in Enel Group, Torrent Power, and Greenko Group submitting non-binding offers to buy a majority stake in ADAG utilities.

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“We have learnt from media reports that ADAG wants to divest its 51 percent stake in BRPL and BYPL,” the power giant said. “NTPC is keen to explore the opportunities for acquiring 51 percent stake in BRPL and BYPL, which are on sale, provided that the equity sale is done through a transparent process.”

Last year, the Central Electricity Regulatory Commission (CERC) in May had approved the application filed by NTPC Ltd. to grant the PSU with an electricity trading license in the country. The central commission has proposed granting the power utility with a trading license, to help it in the implementation of renewable energy projects, especially solar power projects in India. After no suggestions or objections were received in response to the notice issued, the commission had directed that NTPC Limited be issued a Category ‘I’ license for inter-State trading in electricity in India.