Mumbai/ Mahan, 8th March 2016: Essar Power Ltd is pleased to announce that Mr KVB Reddy will take additional and direct charge of Essar Power MP Ltd as Chief Executive Officer with immediate effect.
Essar Power MP owns and operates a 1,200 MW (2x600 MW) power plant in Singrauli district, Madhya Pradesh. The plant is backed by a captive coal mine in Tokisud, Jharkhand, which the company won in the recent coal auction. With a dedicated coal mine and improved coal availability at cheaper prices, Essar Power MP is fully equipped to supply affordable power to the nation.
Mr Sushil Maroo, Executive Vice Chairman, Essar Power, said: “Mr Reddy is well respected and a veteran in the power industry, with a proven track record. We would like to benefit from his experience in setting up large power plants and operating them.”
Mr Reddy has more than 32 years of experience in the power industry and has been involved in executing all the power projects of Essar. Having joined Essar Power in 1995, he has been responsible for formulating and directing the overall strategy of the Power Business Group. Since October 2015, Mr Reddy has been the CEO of Essar Power.
On his new assignment, Mr Reddy said, “I am grateful to the Board of Directors for reposing faith in me and tasking me with this additional portfolio. My immediate focus will be to fully operationalise the plant and ramp up the capacity. I am confident that with the backing of the Tokisud coal mine, I will be able to achieve this objective. I am happy that there is an efficient team already in place at the plant.‘’
About Essar Power
Essar Power Ltd is one of India's top five private sector power producers with over 20 years’ operating track record. It owns power plants in India and Canada with a total generation capacity of 6,100 MW, of which 4,675 MW is operational. Of the total operational capacity, 3,075 MW is coal-based, while 1,600 MW is gas-based. The operating plants in India are at Mahan, Hazira, Salaya and Vadinar. A 1,200 MW plant at Tori in Jharkhand state is under commissioning. Essar has set up these projects at very competitive capex.
Anoop Agarwal , Joint General Manager - Corporate Communications
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