NEW DELHI, Feb. 28, 2022 /PRNewswire/ -- Azure Power (NYSE:
AZRE), a leading independent sustainable energy solutions provider
and power producer in India, today
announced two changes to its Board of Directors.
Christine McNamara will join the
Board effective March 1, 2022, as
Independent non-executive Director. Christine has extensive global
experience of more than 25 years in leading blue chip energy
companies. She has held senior leadership positions across E&P
upstream, power, electricity transmission, and telecommunications
sectors. Her India energy
experience entailed working with PowerGen Plc and BG Group Plc.
Christine will take over the Chair of the Audit Committee and shall
also join the Board of Azure Power India Private Limited, a
subsidiary of the Company.
Arno Harris has indicated his
desire to step down from the Board after nearly 6 years due to his
other commitments. Arno was the chair of the Capital and Audit
Committee of the Company.
Speaking on her appointment Christine McNamara said, "I am delighted to
be joining the Board of Azure Power and look forward to working
again in the Indian energy market. Azure Power has huge potential
for growth in India and I am
excited to be part of this journey."
Arno Harris said, "It's
been a great privilege to serve on Azure Power's board. I'm proud
to have played a part in the company's accomplishments, building
two-and-a-half gigawatts of solar generation capacity, and
establishing the company as a leader in India's energy transition. I depart with
confidence that Azure Power is on a solid foundation to continue
its success, with a bright future ahead."
Speaking on this occasion, Alan
Rosling, Chairman, Board, Azure Power said, "I would
like to thank Arno for his years of astute guidance to Azure Power.
He brought passion, deep industry knowledge and wise judgement to
our Board and he will be sadly missed. I particularly appreciate
the support he has extended to me as I joined the Azure Power team
last year at the Board, in his chairing of the Capital and Audit
Committees, and in private conversations. I also warmly welcome
Christine to the Board. She brings years of energy and power
experience and deep financial expertise. Her taking on the Chair of
Audit, succeeding Arno, inspires confidence that our processes and
control environment will continue to be strengthened as we
grow."
Commenting on the occasion, Ranjit Gupta, MD and CEO, Azure Power said,
"We thank Arno for his guidance over the last 6 years. During his
tenure, Azure Power became the first energy company from
India to list on NYSE in 2016. I
personally feel grateful and privileged to have worked with him
since I joined the company. We are pleased to welcome Christine on
Board. Her extensive experience in corporate finance, strong
leadership and connect with Indian businesses, particularly in the
power sector, will greatly benefit all of us at the Board and the
Management. I look forward to working closely with her to ensure
Azure Power continues to deliver positive impact for all its
stakeholders."
Arno's decision to retire was not the result of any disagreement
with the company on any matter relating to the Company's
operations, policies, or practices.
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
renewable energy projects in the country. We have substantially
reduced our total project cost, which includes a significant
reduction in balance of systems costs due in part to our value
engineering, design, and procurement efforts.
For more information about us, visit: www.azurepower.com
Investor
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SOURCE Azure Power