Ajay Goel, the Chief Executive Officer of Tata Power Solar Systems Ltd, is moving out of the company to a position in the parent company, Tata Power Ltd. BusinessLine has learnt, through credible sources, that Goel is likely to be replaced by Ashish Khanna, who currently serves as the Chief – Corporate Contract Organisation at Tata Power Ltd.

Sources, who did not want to be identified, said Goel would be called upon at Tata Power Ltd to manage its global business.

Approval pending

However, these moves are awaiting a formal board approval. Ajay Goel took over as the CEO of Tata Power Solar in 2012, soon after the Tata Power Ltd bought out the British company’s, British Petroleum, , stake in the erstwhile joint venture Tata BP Solar.

Goel, who had spent two decades in the US in IT, consulting and solar power, notably with SunEdison, was brought into ginger up sales, at a time when the solar market was beginning to look up.

In 2013-14, Tata Power Solar’s turnover rose to ₹1,103 crore from ₹595 crore in the previous year, and it made an operating profit of ₹16.33 crore, compared with an operating loss of ₹42 crore in the previous year. Still, the company had to contend with a net loss of ₹127 crore.

Ashish Khanna, an alumnus of IIT-Delhi, has been with Tata Power Ltd since 2007. Till 2009, he was in-charge of contracts and procurement at Tata Power’s 4,000 MW Mundra ultra mega power project.

He moved to his present position in May 2009, where he is responsible for contracts and procurement, as well as fuel and inventory management for the company’s plants.

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