NTPC to appoint professional CEO for distribution biz
NTPC, the country’s largest electricity generator, has started scouting for a professional CEO to oversee its power distribution business where the company plans a big foray.
It has issued advertisements in media 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 opportunity to deserving candidates to run the distribution operations of the conglomerate for a fixed tenure of three years.
The NTPC 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 having established operations in the segment. In this regard the company has written to Delhi Electricity Regulatory Commission (DERC) inform you that NTPC has decided to foray into distribution sector and is keen on acquiring the distribution assets in the state.
NTPC’s maiden entry into power distribution was by forming a 50:50 JV company ‘KINESCO Power and Utility Private Ltd.’ with Kerala Industrial Infrastructure Development Corporation (KINFRA). It is already distributing power in KINFRA owned industrial theme parks.
The company formed NTPC Electric Supply Company Ltd. (NESCL) in 2002 as its wholly owned subsidiary with the objective of making a foray into the business of distribution and supply of electrical power, as a sequel to the reforms initiated in the power sector. The company was also mandated to take up consultancy and other assignments in the area of the Electrical Distribution Management System.