New Delhi: The Department of Public Enterprises (DPE) has green-lit a proposal to restructure the boards of NTPC subsidiaries THDC India Ltd (THDCIL) and North Eastern Electric Power Corp. Ltd (NEEPCO), making them “leaner” amid a push for hydropower projects along India’s eastern and north-western borders.In a communication dated 18 July to the union ministry of power, reviewed by Mint, DPE agreed with the ministry’s proposal for having a non-executive chairperson and re-designation of the post of managing director on the board of NEEPCO and THDCIL. When implemented, the chairman and managing director of India’s largest power generation utility NTPC Ltd will not have operational control of these strategic hydropower firms and will serve as their non-executive chairman. The appointment of managing directors at THDC and NEEPCO would take place as per the guidelines of DPE, under the union ministry of finance, through the Public Enterprises Selection Board and Appointments Committee of the Union cabinet.Currently, R.K. Vishnoi is the CMD of THDCIL, while the CMD of NTPC Gurdeep Singh holds additional charge as the CMD of NEEPCO.Further, DPE has suggested further changes to the boards in order to make them “leaner” and “improve efficiency, coordination, and decision-making” and asked the power ministry to come up with a revised proposal.The posts of directors—finance, technical and personnel—at THDC and NEEPCO would be abolished, but the director (finance) of NTPC will be present in all major board meetings concerning financial issues.Important post“Director (Finance) is an important post for exercise of delegated powers under the Miniratna scheme. As per DPE guidelines the Government Directors, the Director Finance and the concerned Functional Director(s) must be present when major decisions are taken, especially when they pertain to investments, expenditure or organizational/capital restructuring. As the post of Director (Finance) for NEEPCO and THDCIL is proposed to be abolished, Director (Finance) of NTPC should remain present in meetings related to major decisions in all important financial matters delegated to the board of NEEPCO & THDCIL are taken,” the communication said.THDC, a joint venture of NTPC and the government of Uttar Pradesh has key hydro projects in Uttarakhand including the Tehri, Koteshwar and Vishnugad Pipalkoti projects along with other renewable and thermal projects in other parts of the country. Established in July 1988 with the primary objective of developing, operating and maintaining the 2.4 GW Tehri Hydroelectric Project Complex, THDCIL currently has a 4.35 GW operational power generation capacity across energy sources. Initially, the equity of the company was held in the ratio of 75:25 between the government of India and government of Uttar Pradesh. As a strategic disinvestment, NTPC Ltd took over the Centre’s share on 25 March 2020. As a result, THDCIL became a subsidiary of NTPC, with equity n in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. 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India has approved the restructuring of the boards of THDC and NEEPCO as part of efforts to accelerate the development of hydropower projects.
