Praveer Sinha, a Tata insider has been appointed as the new CEO and managing director of Tata Power. He will assume charge from May 1. Currently, Sinha is the CEO & Managing Director of Tata Power Delhi Distribution Ltd (Tata Power-DDL), a Public Private Partnership between Tata Power and the Government of the National Capital Territory of Delhi, supplying power to North and North-West Delhi.
Sinha replaces Anil Sardana who put in his papers as CEO in end-January citing personal reasons. Many believe it was imminent after Banmali Agarwala – once Sardana’s junior – was appointed to lead the vertical clubbing defence, aerospace and infrastructure projects of the group. Agarwala rejoined the Tata Group as president after leading GE in South Asia for 56 months. When Agarwala was with Tata Power, he reported to CEO Sardana. Under the new scenario Sardana would have to report to Agarwala. With Sinha there are no such issues – he is Agarwala’s contemporary and a close confidant of Tata Group Chairman N Chandrasekaran.
Sinha has spent nearly three decades in the power sector and “he is not only credited with transforming power distribution in his region but also has experience in developing and setting up greenfield and brownfield power plants in India and abroad,” says Tata Power insiders. A statement issued by Chandrasekaran, said, “Praveer’s extensive experience in the power sector and his ability to drive performance, maximise returns and work seamlessly with stakeholders will be very valuable for Tata Power as it looks to strengthen and expand its position in fast-evolving energy market.”
In Delhi, Sinha was pushing the transformation into a smart power distribution company. To achieve this, he first brought down AT&T losses to 8.59 per cent – the least in distribution networks across the country and roped in the technology partners like Toshiba Group to upgrade the network much quicker, Tata Power insiders say.
Sinha was instrumental in ensuring that Tata Power DDL established footprints beyond its licensed area, providing turnkey solutions for distribution reforms in 17 states in India and half a dozen countries outside India. Now, Chandrasekaran needs him to formulate strategy to streamline the renewable energy business -both equipment manufacturing and projects-and explore future of troubled 4,000 MW plant at Mundra in Gujarat. Sardana’s purchase of Welspun Renewables -became of the bone of contentions between Tata Sons and former Chairman Cyrus Mistry.
