|Rajeev Sharma, new PFC CMD|
Sharma succeeds M K Goel as the head of the company who retired on September 30, on attaining the age of superannuation. Goel took over as CMD on January 22 last year.
Before joining PFC, Sharma was the CMD of Rural Electrification Corporation Ltd (REC), another financier of power projects under the aegis of the power ministry.
“Under his leadership, Sharma helped REC scale greater heights by doubling the revenue and profits in the last five years,” said a PFC statement.
Sharma is also considered the architect of the government’s flagship schemes like Deen Dayal Upadhyay Gram Jyoti Yojana and Restructured-Accelerated Power Development and Reforms Programme (R-APDRP).
A brilliant student, Sharma holds a BTech (Electrical) and Masters Degree in Engineering from IIT Roorkee and also a Masters Degree in Business Administration from Faculty of Management Studies (FMS), Delhi University.
Sharma has more than 30 years of experience and has served in various positions in the Central Electricity Authority (CEA), the power ministry, Powergrid and PFC as as Director-Projects.
While in CEA, Sharma was involved in the design, engineering and consultancy of Nathpa Jhakri HE Project (1,500 Mw).
During his tenure as Deputy Secretary in the Ministry of Power, important projects like 2,000 MW Talcher-Kolar HVDC Bipole and Tala Transmission System (first public private partnership) of Powergrid Corp were approved by the government. He has also looked after APDRP and Rajiv Gandhi Grameen Vidyutikaran Yojna (RGGVY) schemes apart from working in Tehri Hydro Development Corp (THDCIL), North Eastern Electric Power Corp (NEEPCO), Bhakhra Beas Management Board (BBMB) and Satjul Jal Vidyut Nigam (SJVNL).
Earlier, Sharma was selected for the post of CMD of Power Finance Corporation in a selection interview held on January 18.
As many as 13 candidates appeared before Public Enterprises selection Board.
Rajeev Sharma has completed five years tenure as REC CMD on October 30.
Sharma has been the CMD of REC since November 29, 2011. With a vast experience of over 26 years in power sector, Sharma served as director of projects for PFC from March 9, 2009 to November 29, 2011 and he was responsible for all functions of projects division including technical appraisal of the projects financed.
He served also as an Executive Director of APDRP, Human Resources and Administration at Power Finance Corporation Limited. He acted as Chairman of the Board of REC Transmission Projects Company Limited.
He has been Chairman at REC Power Distribution Company Limited since November 29, 2011.
A Navratna PSU, PFC has been conferred with many prestigious awards including "KPMG-Infrastructure Today Award 2008" for its contribution in development of power sector. PFC has been providing financial assistance to power projects across the country including generation, transmission and distribution. The PSU has forayed into financing of other infrastructure projects which have backward linkages to the power sector like coal mine development, fuel transportation. PFC is also the nodal agency for the implementation of the ambitious UMPPs.
It will be interesting to see how Sharma powers PFC towards a better future.