NEW DELHI, Sept. 30, 2022 /PRNewswire/ -- Azure Power
Global Limited (the "Company" or "Azure Power") (NYSE: AZRE), a
leading sustainable energy solutions provider and renewable power
producer in India, today announced
the appointment of Mr. Sugata Sircar as an Independent
non-executive Director on the Company's Board effective
October 01, 2022. This appointment
expands the Board to ten directors, all of whom are non-executive
and five of whom are independent directors.
Mr. Sircar has over 32 years of experience in energy &
automation, chemicals, textiles, tyres, FMCG and city gas
distribution. He served as Chief Financial Officer (CFO) at
Schneider Electric India for over 7 years. He has been Managing
Director at Gujarat Gas, the largest listed city gas distribution
company in India (a subsidiary of
BG Group of UK) and prior to that, he was Finance Director &
CFO at Gujarat Gas. He has also worked with companies like Cabot
India, Madura Coats, Britannia
Industries and Dunlop India in various finance roles.
Mr. Sircar is a business advisor, speaker, and writer. He is on
the Executive Committee of the CFO Board (India's pre-eminent body of financial leaders)
and is Ex-Chairman, CFO Committee, Indo-French Chamber of Commerce &
Industry.
Speaking on his appointment, Sugata Sircar
said, "I am delighted to join the Board of Azure Power. As a
leading renewable energy company in India, it provides me the opportunity to
contribute to the country's rapidly growing renewables sector. I
look forward to working closely with the team for the strengthening
and growth of the company."
Speaking on this occasion, Alan
Rosling, Chairman of the Board, Azure Power, said,
"We are delighted to welcome Sugata on the Board. He comes with a
wide experience in finance, risk assurance, internal control,
strong governance practices and leadership. I am sure that he will
contribute significantly as we further strengthen and grow the
company."
Commenting on the occasion, Rupesh Agarwal, Acting CEO, Azure Power
said, "We are pleased to have Sugata on our Board. We are confident
that his diversified experience will be a great asset to the
company's growth prospects. I look forward to collaborating with
him and capitalise on the future growth opportunities for our
stakeholders."
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.
Azure Power 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. Azure Power also partners 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 US Securities Exchange Act of
1934, as amended, and the US 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 financing/refinancing 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; cancellation of PPAs; changes in policies and
regulations including net metering and interconnection limits or
caps; ongoing and potential litigation and/or regulatory
investigations; failure and delays in making regulatory filings
(including in India, Mauritius and United
States); the availability of rebates, tax credits and other
incentives; curtailment; the availability of solar panels and other
raw materials; its limited operating history; 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 and such other risks
identified in the registration statements and reports that the
Company files with the US Securities and Exchange Commission from
time to time. All forward-looking statements in this press release
are based on information available to the Company as of the date
hereof, and the Company assumes no obligation to update these
forward-looking statements.
For more information:
Investor Contact
ir@azurepower.com
Media Contact
pr@azurepower.com
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