Changes to Azure Power’s Management Team

India’s independent sustainable energy solutions provider and renewable power producer Azure Power, announced the appointment of a new Chief Executive Officer (CEO) and Group Chief Financial Officer (CFO).

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. Gupta will also become Managing Director of the Company’s subsidiary, Azure Power India Private Limited.

Gupta will bring deep leadership experience in the renewables sector and a strong track record of building renewable energy businesses. Prior to Azure, he was the Head – Southeast Asia and 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, Gupta 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: "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."

As a further step to strengthen the company’s 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.

Sircar has over 32 years of experience in energy and 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.

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