NTPC in search of professional CEO for distribution biz
The country’s largest electricity generator NTPC, is planning to foray into power distribution segment. In this regard, the company has started a nationwide search for a professional CEO to oversee its power distribution business.
The company has issued and advertisement for the appointment of a CEO asking for a qualified professionals to apply for the position. The advertisement says that the company can offer the best pay and allowances in the industry for deserving candidates who would have the opportunity to run the distribution operations of NTPC for a period of three years.
Eligibility
According to advertisement, the upper age limit of an applicant should not be more than 55 years, he or she must be holder of a degree in mechanical/electrical engineering from a recognised university or institution.
About experience, the advertisement states that the applicant should have 25 years of experience with an in-depth exposure of distribution business and its related aspects. In addition, experience of business development and expansion along with sound knowledge of profit and loss account, understanding of commercial aspects of power industry and electricity regulations of distribution business is solicited.
The appointment shall be for a three years tenure on a fixed-term basis while the application submission deadline for the same is June 15, 2020.
NTPC Plans for Distribution Segment
This assumes significance because NTPC is primarily a power-generation company and is currently looking for a dynamic experienced professional as CEO of distribution business.
In a nutshell, NTPC is now looking to foray into and grow its distribution business. This has come in the wake of the recent government announcement regarding privatization of such operations in the union territories. The state governments have also been asked to pursue the reforms towards strengthen the power sector.
NTPC revealed its intention to foray into the electricity distribution market last week, and also offered to acquire 51 per stake in two Anil Dhirubhai Ambani Group (ADAG) utilities in Delhi.
In this regard, NTPC has stated in a letter written to the Delhi Electricity Regulatory Commission (DERC), that it had learned that ADAG would like to divest its 51 percent stake in BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL) and that the company is keen to acquire these distribution assets.
