New Delhi: Ravinder Singh Dhillon has assumed charge as new Chairman & Managing Director (CMD) of Power Finance Corporation (PFC) Limited, a Navratna PSU under the Ministry of Power, on Monday. Prior to this appointment, he was serving as Director (Projects) in the same organisation. Dhillon has been appointed on the post of CMD of PFC for a period with effect from June 1, till the date of his superannuation i.e. May 31, 2023, or until further orders, whichever is the earlier. With this promotion, Dhillon has replaced Rajeev Sharma, who was serving since October 1, 2016.
Earlier, PSU Watch had reported that Dhillon was recommended for the post of CMD of PFC by a PESB panel on December 9, 2019. He was selected from a list of seven candidates, who were interviewed by the selection panel.
Dhillon is an Engineering (Electrical) graduate from Thapar Institute of Engineering & Technology, Patiala (Punjab). He also holds an MTech in Power Systems from IIT Delhi. The new CMD brings with him close to 36 years of rich and varied experience that spans across the entire value chain of the power sector. Out of this, 27 years is in PFC with experience of financing power sector i.e. generation, transmission and distribution; 6 years in Central Electricity Authority with experience of macro-level planning of power systems & 3 years in Bharat Heavy Electricals Ltd with experience in designing power generating equipment. He has worked in various capacities in PFC, that includes handling project appraisal, business development, stressed assets' revival and monitoring of projects. He was promoted as Director (Projects) of PFC Limited on June 12. He has been a nominee director of PFC on the boards of various private and state-sector power companies. He also served as Director (Public Grievances) in PFC.
Some of the major achievements of the new PFC CMD include his efforts towards geographical diversification by cross border funding of power projects worth almost Rs.9,000 Crs related to Nepal and Bangladesh, significant push to refinancing & renewable business leading to accelerated loan growth, resolution of stress in 4 large projects of more than Rs 4000 Crs etc. He has been a nominee director of PFC on the boards of various private and state-sector power companies. He also served as Director (Public Grievances) in PFC.
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