Deepesh Nanda was named President-Renewables and CEO & MD of Tata Power Renewable Energy Limited (TPREL) by Tata Power on Wednesday.
Tata Power Firm Limited is an Indian electric utility firm that is part of the Tata Group and is headquartered in Mumbai, Maharashtra. The company’s primary business is to create, transfer, and distribute power. It is India’s biggest integrated power provider, with a total installed capacity of 14,076 MW.
For more than four decades, the firm’s Strategic Engineering Division (SED) has been involved in defense systems and engineering. It collaborates with the MoD and labs to deliver goods and solutions for the country’s defense needs.
Because of considerably higher coal prices than anticipated in the plans and a fixed pricing agreement, the Mundra plant lost a lot of money in 2012. As a consequence of three consecutive years of deficits, cash flow had become a concern for the corporation.
In January 2014, the business paid $500 million for a 30% share in the Indonesian coal producer PT Arutmin. In July 2014, it agreed to sell a 5% share in the Indonesian coal business Kaltim Prima Coal for $250 million.
Tata Power stated in a statement that his appointment would take effect on November 1, 2023. Nanda will be in charge of driving the expansion and profitability of Tata Power’s renewable energy portfolio, which includes solar, wind, hybrid, and B2C green energy solutions.
He will also oversee renewable energy innovation and digital transformation efforts. Nanda has 28 years of expertise from organizations such as GE, Flowserve, and Tyco. He comes to Tata Power from GE Gas Power, where he was Chief Executive Officer for South Asia, responsible for operations in India, Bangladesh, Sri Lanka, Mauritius, and Nepal.
He was also President and CEO of GE’s Asia Aero-derivative Gas Turbine business area. Nanda attended Annamalai University. He received his MBA at the Open University Business School in Milton Keynes, UK, and has substantial leadership training from GE Crotonville.
Praveer Sinha, CEO & MD of Tata Power, said, “We welcome Deepesh Nanda to the Tata Power family. His illustrious career and proven track record of delivering excellence make him a valuable asset as we chart our path toward leadership in the renewable energy domain. His expertise and vision will be instrumental as we aim to reinforce our position as the most preferred and trusted green energy solutions company.“