Prabhajit Kumar Sarkar is currently the managing director and chief executive officer of Power Exchange India Limited (PXIL). Launched in October 2008, PXIL is India’s first institutionally promoted electronic power exchange. The exchange has a 40 per cent market share in the renewable energy certificate (REC) and term-ahead markets.
Over the years, through his experience in senior positions at several top companies, Sarkar has acquired diverse and in-depth expertise in various areas in the power sector including trading, distribution, generation, power purchase agreement signing and REC market development.
Sarkar started his career with PTC India Limited and later joined the corporate strategy team at Larsen & Toubro. Before taking up his current role in 2018, he was associated with Indian Power Corporation Limited (IPCL). As senior vice president, strategic business initiatives, he played an instrumental role in spearheading IPCL’s asset portfolio growth in both the generation and distribution segments through mergers and acquisitions, strategic alliances, joint ventures and new business development.
Sarkar’s major achievements in the current role include shoring up the exchange’s net worth in terms of regulatory requirements, becoming consistently profitable, gaining back market share, completing the revamp of technology platforms, expanding teams and market presence, setting up offices in Kolkata and Hyderabad, and participating in regulatory and policy discussions on designing the power market of the future. Going forward, PXIL aims to deepen its presence in the day-ahead and real-time markets along with offering world-class services and ensuring deployment of best-in-class technologies.
A recent challenge faced by Sarkar and his team was the lockdown due to the COVID-19 pandemic. His immediate concern was to see if the technology platforms that PXIL had launched in January 2020 worked seamlessly. The systems held up and it was a fantastic realisation for the whole team. Another challenge was to ensure that work-from-home was successful. The team relied on proactive communication to compensate for the lack of physical presence. On the personal front, the lockdown has, however, been solitary, as his wife, son and parents are in Kolkata where he was also based until he joined PXIL in Mumbai.
Sarkar is a graduate from the Government Engineering College, Jalpaiguri, and holds a postgraduate degree in management from the Management Development Institute, Gurugram. He enjoys playing the flute and adventure sports like paragliding and bungee jumping.