According to a statement as per the Ministry of Power order, Sreekant's tenure will be till December 31, 2023, the date of his superannuation, or until further orders, whichever is earlier.
Power Grid Corporation of India (Powergrid), the state-owned electric utilities company on August 7 announced that K. Sreekant has assumed charge as Chairman and Managing Director of the company from August 5, 2019.
Sreekant will replace Ravi P Singh, Director (personnel), holding the post of the CMD of the company relinquished as additional charge.
According to a statement as per the Ministry of Power order, Sreekant’s tenure will be till December 31, 2023, the date of his superannuation, or until further orders, whichever is earlier.
Prior to taking up this assignment, he was serving as Director (Finance) with the company.
Sreekant has more than thirty-three years of experience in the power sector, including in all facets of finance and accounting functions. He has, in particular, been involved in long-term financial planning, investment appraisals, formulation of capital budgets, resource mobilisation from domestic and international markets and corporate accounts.
Sreekant holds B.Com (Hons.), CMA and PGDBM (Finance) degrees.
Power Grid is a Navratna company, with turnover and net profit at Rs 30,430 crore and Rs 10,000 crore respectively in FY19.
As on March 31, 2019, the total transmission assets of Power Grid and its subsidiaries stood at 158,297 ckm of transmission lines, 245 sub-stations and 371,912 MVA of transformation capacity.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.
