Dr. Sinha's present tenure as a CEO and MD will conclude on 30 April 2023, and thus, he has been re-appointed for four years starting from 1 May 2023 until 30 April 2027.
The board took the decision based on the recommendation of the Nomination & Remuneration Committee, and the re-appointment is subject to approval of members of the company.
Under Sinha's current leadership, Tata Power is at the forefront of transforming itself from a century old power utility company into a new-aged sustainable, technology oriented and customer centric green energy solutions company.
He has led multiple partnerships with National and International technology partners and institutional associations. He has contributed significantly towards setting up the first international incubator in India for promoting innovations in the clean energy space.
He is the Chairman of CII Western Region council and co-chairs the CII National Committee on Power.
Dr. Sinha is a qualified Electrical Engineer and has also done his Master's in Business Law. He received his Ph.D. from Indian Institute of Technology, Delhi and is a visiting Research Associate at Massachusetts Institute of Technology (MIT), Boston, USA.
Meanwhile, Tata Power Solar Systems (TPSSL), wholly owned subsidiary of Tata Power Renewable Energy (TPREL), has received the letter of award (LoA) of Rs 1,755 crore for setting up 300 MW Domestic Content Requirement (DCR) based EPC project for NLC India.
The project, located at Barsingar in Bikaner district, Rajasthan, is expected to generate more than 750 million units and reduce 6 lakh tons of CO2 annually, said the company. The LoA for the project was awarded through competitive bidding. The project will get commissioned within 18 months from the date of receiving of LoA.
Tata Power Company is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 14,002 MW The company has a presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.
The company's consolidated net profit soared 121.9% to Rs 945.02 crore in Q3 FY23 as against Rs 425.81 crore in Q3 FY22. Net sales jumped 29.5% year on year to Rs 14,129.12 crore in the quarter ended 31 December 2022.
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