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3i-backed Adani Power replaces Ravi Sharma with Vineet Jain as CEO

Ahmedabad based has announced that its executive director and CEO Ravi Sharma is leaving the firm due to personal reasons.

The company’s board of directors has appointed Vineet Jain on May 14 as Sharma’s successor. Sharma’s resignation comes into effect from June 30.

Sharma, with over 27 years of experience in infrastructure and telecom industry Asia, joined Adani Power in 2010. Prior to Adani Power, he has led the South Asia operations of Alcatel/Alcatel Lucent, Asia operations of Europe* Star (JV of Alcatel & Loral) and Indian operations of Videocon Telecom.

Jain, who takes over the reins of the PE backed firm, joined in 2006 as senior vice-president. In this new role, he has taken the charge of business development function and O&M of power plants.

With a degree of mechanical engineering, Jain has been serving in the power sector for over 20 years.

At Adani Power, he has been credited for successfully implementing 4,260 MW thermal power plant at Mundra, Gujarat.

Backed by PE firm 3i, Adani Power is a part of Adani Group. Currently, the group is eyeing to raise $1 billion through sale of minority stake in two public-listed group firms and says it would pump in around $6 billion for international expansion by 2015.

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