NEW DELHI, Dec. 6, 2019 /PRNewswire/ -- Azure Power Global
Limited ("Azure Power" or the "Company") (NYSE: AZRE), a leading
solar power producer in India,
announced that it held a special meeting of shareholders on
December 6, 2019. The proposals
submitted for shareholder approval were approved.
Specifically, the shareholders (i) authorized the Company to
issue equity shares or share equivalents for more than 10% (ten
percent) of the share capital of the Company, and (ii) approved
that section 55 of the Mauritius Companies Act shall not apply to
the aforesaid issuance of shares.
About Azure Power
Azure Power (NYSE: AZRE) is a leading independent solar power
producer with a pan-Indian portfolio. With its in-house
engineering, procurement and construction expertise and advanced
in-house operations and maintenance capability, Azure Power
provides low-cost and reliable solar power solutions to customers
throughout India. It has
developed, constructed and operated solar projects of varying
sizes, from utility scale, rooftop to mini & micro grids, since
its inception in 2008. Highlights include the construction of
India's first private utility
scale solar PV power plant in 2009 and the implementation of the
first MW scale rooftop project under the smart city initiative in
2013.
For more information, 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 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
Nathan
Judge, CFA
ir@azurepower.com
Investor Relations, Azure Power
Media Contact
Samitla Subba
pr@azurepower.com
+91-11- 4940-9854
Marketing, Azure Power
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SOURCE Azure Power