Subhash Chandra has over 37 years of professional experience, working both at project sites and in the corporate world. He has expertise in power project development, design and engineering, business development and marketing of financial products. Currently chief general manager, Power Finance Corporation, he works on ways to increase company’s profitability and handles its business interests in eastern, north-eastern and central sector power projects.
Chandra notes that the sector is currently facing several challenges. These pertain to stressed power assets, high transmission and distribution losses, power theft, poor collection efficiency and delays in settling National Company Law Tribunal cases. “Many stressed power projects are facing insolvency proceedings due to poor planning, unforeseen risks and lack of commitment on the part of developers. But the stress in many cases is caused by the non-payment of dues by discoms,” says Chandra.
That said, he has a positive outlook for the sector and believes fresh capital infusion will pave the way for development and 24×7 power supply. He adds that the payment security mechanism requiring discoms to open letters of credit to procure power and UDAY 2.0 spell hope for the stressed sector. On the way forward, Chandra believes that the idea of creating a national market for electricity purchase from any generator is interesting as it will maximise resource efficiency, bring down power procurement costs and reduce renewable energy curtailment.
Among his many assignments, Chandra cherishes his role as a hydro development professional at the Uri project in Jammu & Kashmir during the 1990s, when the law and order situation was very challenging. He also recalls his involvement in sector reforms in Odisha, which became a model for other states.
Chandra’s management style focuses on empowering his team to take initiatives to achieve organisational goals. He encourages his team to maintain a healthy work-life balance and follows the same principle himself. He recharges himself by doing yoga and meditation. He likes listening to old Bollywood music and ghazals, watching movies, especially those of Amitabh Bachchan, and going on adventure trips with his family, which includes his wife, also a government official, and their two children.
Chandra has a B.Tech in electrical engineering from G.B. Pant University, Pantnagar, and an MBA in finance.