Power Exchange India Ltd (PXIL) has appointed M G Raoot as its Managing Director and Chief Executive Officer following the departure of incumbent Rupa Devi Singh.
Raoot is currently the MD and CEO of National Power Exchange — an electricity bourse promoted by the state-run NTPC, among others — which is yet to start operations.
PXIL and Indian Energy Exchange (IEX) are the only two operational power bourses in the country.
In a statement today, PXIL said Raoot has been appointed to its board.
Till he takes over, the exchange’s CFO and Company Secretary Pawan Agarwal would serve as the interim CEO.
PXIL, which is going through challenging times, said that Rupa Devi Singh has stepped down due to personal reasons.
“Singh was the MD and CEO of the exchange, from 2008 and the exchange has launched many new products, including the green renewable energy certificates, during her tenure,” it added.