Sarit Maheshwari Appointed CEO of NTPC Green Energy, Succeeds Rajiv Gupta
NTPC Green Energy Limited (NGEL), a fully owned subsidiary of NTPC Ltd, has announced the appointment of Sarit Maheshwari as its new Chief Executive Officer (CEO) and Key Managerial Personnel, effective May 10, 2025.
The announcement came through a regulatory filing to the stock exchanges on Saturday.
The board of directors approved the appointment during its meeting held the same day. Alongside this decision, the board also confirmed the cessation of Rajiv Gupta as CEO and Key Managerial Personnel, effective May 10, 2025.
Transition at the Top
The leadership change follows the repatriation of Rajiv Gupta to NTPC, the parent organisation. Gupta’s exit marks a routine top-level management transition aimed at aligning leadership roles with NTPC’s broader renewable energy goals.
The company emphasised that the leadership change is part of its strategy to strengthen clean energy initiatives as it continues to expand its presence in the green power sector.
Maheshwari’s Experience and Qualifications
Sarit Maheshwari brings more than 35 years of experience in the power sector. An alumnus of Aligarh Muslim University, he holds a Bachelor’s degree in Mechanical Engineering.
He also earned a Master’s degree in Power Generation Technology from IIT Delhi and completed an MBA from Indira Gandhi National Open University (IGNOU).
His career includes significant leadership roles. Before this appointment, he served as CEO of NTPC Renewable Energy Limited and headed NTPC Rajasthan Green Energy Limited, a 74:26 joint venture between NGEL and Rajasthan Rajya Vidyut Utpadan Nigam Limited.
Maheshwari has also held the position of Head of Project at NTPC’s Korba facility, further strengthening his credentials within the organisation and the sector.
NTPC Green Energy’s Expanding Role
NTPC Green Energy, the renewable energy arm of NTPC Ltd, has been making strategic moves in the clean energy space.
In February this year, the company signed a Memorandum of Understanding (MoU) with Madhya Pradesh Power Generating Company Ltd (MPPGCL) during the Global Investors Summit in Bhopal.
The MoU focuses on the development of solar, wind, and hybrid renewable energy projects in Madhya Pradesh, with or without storage, targeting a capacity of up to 20 GW or more.
The agreement also includes the formation of a joint venture company (JVC) to support the Renewable Generation Obligation (RGO) of MPPGCL and the Renewable Purchase Obligation (RPO) of state power distribution companies.
This strategic collaboration reflects NGEL’s commitment to scaling up renewable energy infrastructure across the country.
Market Response
On the eve of the leadership announcement, NTPC Green Energy’s shares closed at ₹97.35 on the Bombay Stock Exchange (BSE), down by ₹0.40 or 0.41%. The slight dip in share value occurred on May 9, 2025, ahead of the official announcement on May 10.
Market watchers will now focus on how Maheshwari’s appointment may influence NGEL’s renewable energy ventures and overall growth trajectory in the coming months.
Reinforcing NTPC’s Green Mission
The appointment of Sarit Maheshwari is seen as a strategic step toward accelerating NTPC’s clean energy goals.
His extensive experience, coupled with academic credentials and leadership within NTPC’s renewable subsidiaries, positions him to guide NGEL through the next phase of its green energy journey.
Under his leadership, NTPC Green Energy is expected to continue strengthening its portfolio of sustainable energy projects, furthering NTPC’s long-term vision of a cleaner and more energy-efficient future.
The change in leadership marks a continuation of NTPC’s efforts to restructure and re-align its human resources to best serve its expanding role in India’s renewable energy landscape.
