Tata Power CEO & MD Anil Sardana is credited with strengthening the Indian company by acquiring the 1.14 GW renewable energy portfolio of Welspun Renewables Energy Private Ltd. in 2016, including 990 MW of solar power capacity. (Photo Credit: TPREL)
- Tata Power Co. Ltd.’s CEO & Managing Director Anil Sardana resigns from his role
- His resignation will be effective as of April 30, 2018, according to management
- Sardana is stepping down due to personal reasons; however, one local newspaper says the move could be due to planned restructuring within the Indian power company
Indian power company Tata Power Co. Ltd. (Tata Power) has announced the resignation of its CEO and Managing Director Anil Sardana. Sardana, who has been in his current role since February 2011, will step down as of April 30.
Tata Power stated that Sardana has resigned for personal reasons. However, Indian business daily The Economic Times (ET) said the MD’s resignation may have something to do with the Tata Group’s Chairman N Chandrasekaran’s attempts to restructure the entire business. Chandrasekaran is reportedly aiming to bring power projects and defence-related businesses under the same roof. Former GE Executive Banmali Agrawala is apparently set to head up that role.
In such a scenario, Sardana would have had to report to Agrawala. This apparently prompted Sardana to hand in his notice. Company management has not yet revealed whether it wants to replace Sardana internally or look for an external successor.
Sardana’s work experience spans 3 decades, during which time he worked with NTPC Ltd. and BSES Ltd. He also worked with other Tata Group companies including Tata Teleservices Ltd. As CEO and MD of Tata Power, one of his most significant achievements was the acquisition of Welspun Renewables Energy Pvt. Ltd. (WREPL) in 2016, including the latter’s 1.14 GW renewable energy portfolio. At that time, it comprised 990 MW of solar power projects alone (see Tata Acquires Welspun Renewables).
Tata Power Renewable Energy Ltd. (TPREL) is a wholly owned subsidiary of Tata Power. TPREL is the company’s primary investment vehicle for clean and renewable energy generation capacity. At present, its operating solar power capacity is 932 MW.