NEW DELHI, Sept. 29, 2020 /PRNewswire/ -- Azure Power
(NYSE: AZRE), a leading independent solar power producer in
India, announced that it held its
2020 Annual General Meeting of Shareholders on September 28, 2020. Each of the proposals
submitted for shareholder approval was approved.
Specifically, the shareholders (i) adopted the Annual Report of
the Company for the period ended March 31,
2020, together with the Report of the Board of Director and
the Report of the Auditor and the Form 20-F, (ii) re-appointed
Ernst & Young Associates LLP ("EY Mauritius") as the
independent auditor of the Company (the "Auditor") for the fiscal
year ending March 31, 2021, (iii)
re-elected Mr. Arno Lockheart Harris
as the Company's director, (iv) re-elected Mr. Cyril Sebastien Dominique Cabanes as the
Company's director, (v) ratified appointment of Ms. Supriya Prakash Sen as the Company's director,
and (vi) ratified appointment of Mr. M. S. Unnikrishnan as the
Company's director. Dr. R.P Singh, 72 years, tenure as Director of
the Company ended with effect from September
28, 2020. The number of Board members as on date is 10, with
majority deemed independent.
About Azure Power
Azure Power (NYSE: AZRE) is a leading independent solar power
producer with a pan-India
portfolio over 7 gigawatts. Azure Power developed India's first private utility scale solar
project in 2009 and has been at the forefront in the sector as a
developer and operator of solar projects since its inception in
2008. With its in-house engineering, procurement and construction
expertise and advanced in-house operations and maintenance
capability, Azure Power manages the entire development and
operation process, providing low-cost solar power solutions to
customers throughout India. 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 issues related to the corona
virus; supply disruptions; power curtailments by Indian state
electricity authorities 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.
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SOURCE Azure Power