RS Sharma may join Jindal Power - Recently retired as chairman and managing director of state-owned power utility NTPC

R.S. Sharma, who recently retired as chairman and managing director (CMD) of state-owned power utility NTPC Ltd, could join Jindal Power Ltd(JPL) as managing director, two persons familiar with the development said.JPL is a subsidiary of Jindal Steel and Power Ltd (JSPL), which is run by the family of Naveen Jindal, a lawmaker from India's ruling Congress party.

"He is joining JPL. They have a huge power generation development plan," said one of the persons, who, like the other, did not want to be identified.JSPL, which mines ore and coal, and produces steel and electricity, has already set up a 1,000MW power plant at Raigarh in Chhattisgarh.The company is developing projects with a combined capacity of 10,480MW, of which 4,380MW is thermal power and the rest, hydropower.It plans to add another 4,180MW of power generation capacity and intends to set up nuclear, wind and solar power projects.

"We want to ramp up capacity," said a senior company executive, who did not want to be identified. "There is a talent scarcity in the country. He (Sharma) is a very competent professional."Sharma declined comment.

A Jindal spokesperson said: "At present, we do not have any knowledge about Mr. R.S. Sharma joining Jindal Power Ltd."Sharma has worked for nearly 38 years in India's power sector and was also commercial director at NTPC.After his retirement, Sharma applied to the government for permission to seek private sector employment. Top executives who are retiring at India's state-run firms have to seek and receive the government's permission if they want to immediately take up posts in the private sector.R.P. Singh, former CMD of state-owned Power Grid Corp. of India Ltd, is currently executive vice-chairman of JPL.

JPL, which plans to raise $2.1 billion (around '9,430 crore) through an initial public offering, was recently in the news when the environment ministry asked the Chhattisgarh government to take action against it for starting construction of the 2,400MW plant--comprising four units of 600MW each--at a site that had received environmental clearance for only a 1,000MW project (four units of 250MW each).