Azure Power appoints Chairman of the Board of Directors

Rhea-AI Summary

Azure Power Global appointed Mr. Brijesh Mehra as a non-executive Director and Chairman of the Board, effective May 8, 2024. Mr. Mehra, a veteran in the banking industry with over 35 years of experience, brings valuable insights to the Company. Azure Power sees his leadership as an asset for their transformation journey in the sustainable energy solutions sector.

Positive

• Mr. Brijesh Mehra's appointment brings valuable banking industry experience to Azure Power.

• His role as Chairman of the Board is expected to enhance Azure Power's transformation journey.

• Azure Power's strategic move to appoint a seasoned professional like Mr. Mehra signifies a positive direction for the Company.

Negative

• There are no evident negative aspects in the appointment of Mr. Brijesh Mehra as Chairman of the Board at Azure Power Global

GURGAON, India, May 9, 2024 /PRNewswire/ -- Azure Power Global Limited (the "Company" or "Azure Power") (OTC: AZREF), a leading sustainable energy solutions provider and renewable power producer in India, today announced that Mr. Brijesh Mehra has been appointed as a non-executive Director of the Company and of Azure Power India Private Limited as the nominee of CDPQ Infrastructures Asia Pte Ltd., effective May 08, 2024. Mr. Mehra shall also assume the role of Chairman of the Board of the Company and of Azure Power India Private Limited.

Mr. Mehra is a veteran in the banking industry with over 35 years of experience across several capacities including overseeing businesses across India and multiple South Asian geographies. In his last role at RBL Bank, Mr. Mehra was responsible for the Wholesale business of the Bank. Prior to joining RBL Bank, Mr. Mehra was Country Executive India and as well as Southeast Asia/India Cluster Head of Corporate and Institutional Banking at Royal Bank of Scotland (RBS). He holds a bachelor's degree from Delhi University and an MBA from Indian Institute of Management (IIM) Ahmedabad.

Speaking on this, Mr. Sunil Gupta, Chief Executive Officer, Azure Power, said, "We are pleased to have Brijesh join our Board as the Chairman. We believe that his rich leadership experience, excellent insights about the business environment and deep understanding of financial and capital markets will be valuable assets for the Company's transformation journey."

Commenting on the appointment, Mr. Brijesh Mehra said, "I am delighted to join the Azure Power team. The Indian renewable energy space is thriving, and Azure Power is well situated to capture its growth potential. I look forward to working with the other members of the Board to lead Azure Power through its next phase of growth."

About Azure Power

Azure Power develops, constructs and operates renewable energy projects to provide innovative solutions to its customers' needs. Since 2009, Azure Power has grown rapidly to become a leader in accelerating India's energy transition.

For more information about Azure Power, visit: www.azurepower.com.

Forward-Looking Statements

This press release contains forward-looking statements. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "believes" 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.

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Contact
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SOURCE Azure Power

FAQ

Who has been appointed as a non-executive Director and Chairman of the Board at Azure Power?

Mr. Brijesh Mehra has been appointed as a non-executive Director and Chairman of the Board at Azure Power.

What is Mr. Brijesh Mehra's background?

Mr. Brijesh Mehra has over 35 years of experience in the banking industry, including roles at RBL Bank and Royal Bank of Scotland.

When did Mr. Brijesh Mehra assume his new roles at Azure Power?

Mr. Brijesh Mehra assumed his roles as Director and Chairman of the Board at Azure Power on May 8, 2024.

What are the expectations from Mr. Brijesh Mehra's appointment as Chairman of the Board at Azure Power?

Mr. Brijesh Mehra's appointment is expected to bring valuable leadership experience and insights to Azure Power, enhancing the Company's transformation journey.