Comments
The Chief Executive Officer of solar solutions major, Tata BP Solar, has resigned with effect from May 2, 2012.
Mr K. Subramanya “has decided to move on” and Mr D. Guru, the Chief Financial Officer, will be taking over as the acting CEO, a press statement said.
Mr Guru will report to the Chairman, Mr Adi Engineer.
The Bangalore-based company, established in 1989, is a joint venture with British Petroleum with BP holding 51 per cent and Tata Power holding 49 per cent.
The company is involved in design, manufacture, marketing and execution of solar projects. It manufactures solar photovoltaic cells and modules and solar products like solar lights, solar water pumps, solar power packs and solar water heaters.
The development comes few months after the company’s partner BP announced that it would quit the solar business worldwide as it felt that the business has become unprofitable as solar panel prices are falling globally.
While the company had then said that it was not impacted by the decision of BP to gradually exit solar business, it is learnt that the company’s solar module manufacturing line in Bangalore has not been functioning at full capacity over the last few months.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.