NEW
DELHI, May 6, 2022 /PRNewswire/ -- Azure
Power Global Limited (NYSE: AZRE) ("Azure" or "the Company"), a
leading independent sustainable energy solutions provider and
renewable power producer in India,
today announced that Mr. Harsh Shah will be joining as the Chief
Executive Officer, effective July 1,
2022.
Mr. Shah was previously the Chief Executive Officer of IndiGrid,
India's first and largest
Infrastructure Investment Trust (InvIT) in the Indian energy
sector. It owns, operates, and manages power transmission networks
and renewable energy assets worth US $3
billion. He has also served as the Chief Financial Officer
for Sterlite Power and IndiGrid.
Commenting on the appointment, Alan
Rosling, Chairman of the Board of Azure, said, "We are
excited to welcome Harsh to Azure Power. He is a proven leader who
has deep knowledge of India's
energy sector ecosystem and how it is rapidly evolving. We are
confident that under his leadership, Azure will continue to scale
new heights in India's vibrant
renewable energy sector to offer grid-scale solar, wind, and hybrid
projects to utility customers, as well as commercial and industrial
customers. We wish Harsh all the best as we work together to
strengthen Azure's position as a leader in the renewable energy
space."
Mr. Shah, said, "India's
renewable energy story is at an inflection point with policy intent
and innovative platforms coming together to pave the way for an
exciting, sustainable future. I am happy to join Azure Power at a
time when we see an exciting and momentous market opportunity as
the industry implements energy transition in India. We have tremendous runway for growth to
increase our operating assets sustainably, thanks to the support of
our long-term investors and lenders. I am looking forward to work
with the team at Azure to take this story forward to greater
heights."
Azure builds and operates some of the largest grid-scale
renewable power projects in India,
supplying renewable power to government utilities, and independent
industrial and commercial customers. The Company has a
pan-India portfolio of over 7.4
GWs, with over 2.9 GWs of operational capacity.
About Azure Power
Azure Power is a leading independent sustainable energy
solutions provider, and power producer in India on a mission to create value for all
stakeholders through high-performance Renewable Energy assets. We
developed India's first utility
scale solar project in 2009 and since then, Azure Power has grown
rapidly to become a leader in developing and operating large
utility-scale renewable energy projects in the country. We also
partner with commercial and industrial customers in their
decarbonization journey by providing comprehensive solutions for
their clean energy needs.
For more information about us, visit: www.azurepower.com
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended and the Private Securities Litigation Reform Act of
1995, including statements regarding the Company's future financial
and operating guidance, operational and financial results such as
estimates of nominal contracted payments remaining and portfolio
run rate, and the assumptions related to the calculation of the
foregoing metrics. The risks and uncertainties that could cause the
Company's results to differ materially from those expressed or
implied by such forward-looking statements include: the
availability of additional financing on acceptable terms; changes
in the commercial and retail prices of traditional utility
generated electricity; changes in tariffs at which long term PPAs
are entered into; changes in policies and regulations including net
metering and interconnection limits or caps; the availability of
rebates, tax credits and other incentives; the availability of
solar panels and other raw materials; its limited operating
history, particularly as a new public company; its ability to
attract and retain its relationships with third parties, including
its solar partners; its ability to meet the covenants in its debt
facilities; meteorological conditions issues related to the corona
virus; supply disruptions; power curtailments by Indian state
electricity authorities and such other risks identified in the
registration statements and reports that the Company has filed with
the U.S. Securities and Exchange Commission, or SEC, from time to
time. All forward-looking statements in this press release are
based on information available to us as of the date hereof, and the
Company assumes no obligation to update these forward-looking
statements.
Investor Contact:
ir@azurepower.com
Media Contact:
pr@azurepower.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/azure-power-announces-appointment-of-new-chief-executive-officer-301541662.html
SOURCE Azure Power