Rajendra Prasad Goyal, Director (Finance) at NHPC Limited, has once again assumed the additional charge of Chairman and Managing Director (CMD), effective July 1, 2025. This interim appointment follows the retirement of Raj Kumar Chaudhary, who demitted office upon reaching superannuation. Goyal, a seasoned finance executive with over 36 years of experience at NHPC, has previously served in this capacity from March to August 2024. The Ministry of Power directed this temporary appointment while awaiting a formal appointment, with the Public Enterprises Selection Board (PESB) having recently recommended Bhupender Gupta of THDC India Ltd. for the permanent CMD role.
Experienced Hand Returns to the Helm
In a move signaling continuity and institutional familiarity, the Ministry of Power has reappointed Rajendra Prasad Goyal to steer NHPC Limited as its interim Chairman and Managing Director. Currently serving as Director (Finance), Goyal steps into this expanded leadership role following the retirement of Raj Kumar Chaudhary on June 30, 2025.
This is not Goyal’s first tenure at the top—he previously held the CMD position in an acting capacity between March 1 and August 7, 2024. His reappointment underscores the government's preference for experienced leadership during transitional periods in critical public sector undertakings.
An Extensive Career Rooted in NHPC
Goyal brings over three and a half decades of institutional knowledge and sector-specific expertise to the table. A member of the Institute of Cost Accountants of India and a postgraduate in Commerce from the University of Rajasthan, his entire professional trajectory has been anchored in NHPC.
His core competencies span a wide array of financial disciplines, including budgeting, capital structuring, regulatory compliance, and financial oversight of hydropower construction and operations. This blend of technical acumen and strategic vision makes him a steady hand in times of leadership flux.
Leadership Change Amid Broader Succession Planning
The change in command follows the scheduled superannuation of Raj Kumar Chaudhary, who served as CMD from August 7, 2024, until June 30, 2025. Under his stewardship, NHPC continued to consolidate its position as a major player in India’s renewable energy sector, particularly in hydroelectric power generation.
Meanwhile, the succession planning process is already underway. On June 11, 2025, the Public Enterprises Selection Board (PESB) recommended Bhupender Gupta—currently Director (Technical) at THDC India Limited—for the post of permanent CMD at NHPC. THDC India is a subsidiary of NTPC Limited, another state-run energy major.
Gupta's appointment, if confirmed by the Appointments Committee of the Cabinet (ACC), would bring a technically oriented leadership style to the role, potentially complementing NHPC’s long-term strategic pivot towards integrated renewable energy solutions.
Strategic Significance of the Interim Appointment
While temporary, Goyal’s appointment comes at a critical time for NHPC. The company is actively expanding its renewable energy portfolio amid evolving regulatory landscapes and growing investor interest in sustainable infrastructure. The continuity provided by Goyal is expected to maintain operational stability and ensure that key projects proceed without disruption.
His familiarity with NHPC’s financial and contractual frameworks offers reassurance to stakeholders as the utility navigates complex hydropower developments and forays into solar and wind energy.
Conclusion: Stability Amid Transition
Rajendra Prasad Goyal’s reappointment as interim CMD of NHPC reflects the government’s confidence in experienced internal leadership during a period of transition. As the company awaits final clearance for a new CMD, Goyal’s stewardship is expected to provide stability, fiscal discipline, and institutional continuity.
The upcoming appointment of Bhupender Gupta could potentially open a new chapter in NHPC’s strategic evolution. Until then, Goyal’s return ensures that the organization remains anchored by a seasoned hand—one well-versed in both the technical intricacies and the financial architecture of India’s hydropower landscape.
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