Pradeep Lenka to Head Aditya Birla Group's Power Business

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SUMMARY

The next year, it sold Bina Power Supply Co. Ltd in Madhya Pradesh to Jaiprakash Associates Ltd. A third power project, near Ennore in Chennai, which would have used imported liquefied natural gas from Qatar, was wound up in 2006 after delays in getting clearances from the state government.

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New Delhi, June 27 -- The Aditya Birla Group has hired Pradeep Lenka, the erstwhile chief executive officer of GVK Power and Infrastructure Ltd, to head its entry into the power business.

Lenka, whose term at GVK ended on 18 June, will join the Aditya Birla Group on 28 June as the chief executive officer of its power business, said a person familiar with the development requesting anonymity.

A new company will be formed that may acquire power firms to build its capacity.

Lenka did not respond to phone calls seeking comment, while an Aditya Birla Group spokesperson did not reply to emailed questions. A GVK spokesperson declined comment.

Mint had reported on 30 January about Aditya Birla Group's plan to get back into the power sector.

The group had earlier sold two proposed 1,000MW projects and liquidated another one soon after it had completed first-stage work, including land acquisition and environmental clearances.

"We are also interested in power, which is an interesting space, and we are already looking at several assets in power, too," group chairman Kumar Mangalam Birla said in an interview in February. "But if we won't get anything that suits us, we won't foray into the business at all."

In 2006, the group sold its 1,000MW Rosa Power Supply Co. Ltd in Uttar Pradesh to Reliance Energy Ltd, owned by Anil Ambani's Reliance Group.

The next year, it sold Bina Power Supply Co. Ltd...

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