Suresh Kumar Narang is chief executive officer at Nabha Power Limited, a wholly-owned subsidiary of L&T. He has over 38 years of experience in the power sector, including construction, commissioning, commercials, O&M and management, at different levels and across various leadership positions. He is currently responsible for the operational and financial performance of the company, and management of contracts for procurement of coal and other materials.
Narang notes, “The government has come up with multiple initiatives to support the power sector, viz., notification of the LPS Rules, PLI schemes for solar and battery manufacturing, increased focus on hydro PSPs and BESSs, sanction of smart meters on a large scale, policy intervention to discourage import of solar panels, finalisation of the green hydrogen and green ammonia policy, etc. The MoP has issued a draft phasing plan for the implementation of 40 per cent technical minimum loading at coal-based plants to support flexible operation. To ensure energy security, it has launched HP-DAM to revive gas-based and imported coal-based plants and the PushP portal for beneficiaries willing to procure power from plants tied to other beneficiaries.” According to Narang, deterioration in the financial health of discoms, significant AT&C losses, lack of investment in the power infrastructure enhancement and high level of debts, provision of free electricity to consumers, uncertainties in the regulatory environment, protracted litigations over PPAs and fuel security are a few challenges in the sector that need to be addressed. “India has announced its plan to reduce CO2 and achieve net zero target by 2070. However, the thermal sector is and will continue to be a major source of power in the country in the coming few decades and hence needs to be supported to maintain the health of the sector and to protect the capital invested. All this requires long-term planning and support from the government, along with alignment with all stakeholders,” he adds.
Narang cherishes the time when he got an opportunity to work with legal and financial consultants for the bid management of the Anpara-C project of UPRVUNL. He has adopted a growth-focused collaborative management style. He makes consistent efforts to motivate his team for greater accomplishments and raise the bar for their achievements. In his free time, Narang pursues his hobbies of reading, travelling and sports.