SME Times News Bureau | 02 Jun, 2020
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.
