Reliance Power Limited has announced the appointment of Neeraj Parakh as its Executive Director and Chief Executive Officer (CEO), effective January 20, 2025. His 3-year tenure is subject to the approval of the company’s members, according to an official filing.
The decision to appoint Parakh was taken at a board meeting held at the company’s Navi Mumbai headquarters. The filing confirmed that Parakh is not related to any of the directors, in compliance with regulatory norms.
Parakh has been with the Reliance Group since 2004, serving in roles across project planning, operations, procurement, and compliance. Over two decades, he has contributed to the development of power projects with a cumulative capacity of over 10 GW, spanning both thermal and renewable energy sectors.
Parakh’s work has been integral to major power projects such as Rosa, Sasan, and Yamuna Nagar, with a combined investment of ₹50,000 crore. Reports suggest that his focus on project execution and management has been central to the company, particularly in areas such as vendor localization and reducing dependency on imports. He has helped streamline procurement and optimize resources across the company’s projects.
Earlier this month, Reliance Power and Reliance Infrastructure disclosed plans to reclassify Anil Ambani and Jai Anmol Ambani from “promoter” to “public shareholder” status. This, approved by the boards of both companies, adheres to SEBI’s Regulation 31A requirements.
Shares of Reliance Power shares are currently trading at ₹40.21, down by 1.40% as of 10:37 AM today, on January 21, showing a 48.41% gain over the past six months and a 40.88% rise over the past year. Though it remains down 83.26% from its all-time high.
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Published on: Jan 21, 2025, 3:01 PM IST
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