NEW
DELHI, May 3, 2023 /PRNewswire/ -- Azure Power
Global Limited (NYSE: AZRE) ("Azure" or the "Company") today
announced the appointment of a new Chief Executive Officer (CEO)
and Group Chief Financial Officer (CFO).
Appointment of Sunil Gupta as
CEO
Sunil Gupta will join the Company
as CEO on July 10, 2023, replacing
the acting CEO, Rupesh Agrawal, who
will be leaving at that time to pursue other opportunities. Sunil
will also become Managing Director of the Company's subsidiary,
Azure Power India Private Limited.
Sunil brings deep leadership experience in the renewables sector
and a strong track record of building renewable energy businesses.
Prior to Azure, Sunil was the Head – South East Asia & South Asia Business at
Vena Energy (a leading Asia
Pacific renewable energy company), managing existing
business and developing new projects. Earlier he was Group Head -
Renewable Energy Business at Sembcorp Industries, Singapore, where he built the renewables
business and spearheaded market entry in India, Australia, Singapore and Vietnam. In India, he was instrumental in managing a
business comprising of multiple utility scale wind and solar power
generation plants across seven different states. Prior to joining
Sembcorp, Sunil was a cleantech industry professional with Standard
Chartered Bank and Morgan Stanley.
Alan Rosling, Chairman of the
Board of Directors of Azure, said, "We are delighted to welcome
Sunil to Azure and look forward to his leadership to grow the
Company's renewable energy business. We believe that Sunil's deep
experience creating value in the sector, deep understanding of
international standards of governance, and vast experience of
capital raising will benefit Azure as it moves forward. We are also
grateful to Rupesh for his significant contribution over the past
year and wish him all the best in his next career move."
Sunil Gupta said on this
occasion, "I am honored to be joining the Azure team to steer and
grow the Company's business in the fast-growing Indian renewable
energy sector. I am thankful to the Board for the warm welcome, and
I look forward to continuing to grow Azure as one of India's most prominent and innovative
renewable energy companies."
Appointment of Sugata Sircar as Group CFO & Executive
Director, Finance
As a further step to strengthen the Company's overall governance
and control, Sugata Sircar has joined the Company as Group CFO and
Executive Director, Finance of the Company's subsidiary, Azure
Power India Private Limited, with effect from May 1, 2023. He has resigned from his position as
Non-executive Independent Director and member of the Company's
Audit & Risk Committee and Capital Committee. Pawan Agrawal will continue as CFO of Azure
Power India Private Limited and its group of subsidiaries,
reporting to Sugata.
Mr. Sircar has over 32 years of experience in energy &
automation, chemicals, textiles, tires, FMCG and city gas
distribution. Most recently, he served as CFO at Schneider Electric
India. He joined the board of Azure as a Non-Executive Independent
Director in 2022.
Alan Rosling, Chairman of the
Board of Directors of Azure, said, "Sugata has been an outstanding
member of Azure's Board and Audit & Risk and Capital Committee.
He is a highly experienced CFO, and we have every confidence that
he will provide strong financial leadership to the Company as we
move forward."
Sugata Sircar said on this occasion, "I am delighted with my new
role at Azure as Group CFO. My priority will be finalizing Azure's
consolidated accounts and strengthening overall governance and
control. I look forward to working with Pawan in this endeavor. I
thank the Board for trusting me and offering this exciting
opportunity."
About Azure
Azure is a leading independent sustainable energy solutions
provider and renewable power producer in India. Azure developed India's first utility scale solar project in
2009, and since then has grown rapidly to become a leader in
developing and operating large utility-scale renewable energy
projects in the country.
For more information about Azure, 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 bringing of a fresh
perspective and valuable guidance, driving growth and success,
driving the Company forward, and achieving Company goals. Words
such as "may," "will," "should," "likely," "anticipates,"
"expects," "intends," "plans," "projects," "believes," "estimates,"
"outlook" and similar expressions are used to identify
forward-looking statements. These statements are based on current
expectations and beliefs and are subject to uncertainty and changes
in circumstances. Actual results may vary materially from those
expressed or implied by the statements in this press release. 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 any forward-looking
statements.
For more information:
Investor Contact
ir@azurepower.com
Media Contact
pr@azurepower.com
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SOURCE Azure Power