NEW DELHI, July 1, 2022 /PRNewswire/ -- Azure Power (NYSE:
AZRE) ("Azure" or "the Company"), a leading sustainable energy
solutions provider and renewable power producer in India, today announced in continuation to its
update on May 6, 2022, that Mr. Harsh
Shah has joined the Company today as its Chief Executive
Officer.
Harsh brings deep business and leadership experience with strong
track record of building large infrastructure platforms, developing
high performance teams and delivering operational and financial
success. Prior to Azure, he was the CEO at IndiGrid, India's first and largest Infrastructure
Investment Trust (InvIT) in the Indian energy sector. Harsh has
also served as CFO at Sterlite Power and worked with AGNI Inc.,
L&T Infrastructure Finance, Procter & Gamble and HEC
Infra.
Alan Rosling, Chairman of the
Board of Directors of Azure said, "We are delighted to
have Harsh on board with us at Azure and are confident that under
his leadership Azure will grow rapidly in India's exciting renewable energy sector."
Harsh Shah, CEO Azure Power, said on this occasion, "I am
delighted to join Azure team today. This is a tremendous time to be
in the Indian renewable energy space and Azure is certainly placed
very well to seize this big growth opportunity that India presents. I am thankful to the Board and
the team for the warm welcome and I look forward to prioritise our
efforts to take Azure to greater heights."
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; curtailment; 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 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.
For more information:
Investor Contact
Vikas Bansal
ir@azurepower.com
Media Contact
Samitla Subba
pr@azurepower.com
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