Azure Power appoints new CEO following April resignations

• Indian independent power manufacturer (IPP) Azure Power has appointed Harsh Shah as CEO, reliable from 1 July, following the resignation of its previous CEO, Ranjit Gupta, last month.

Shah was formerly the CEO of IndiGrid, an Infrastructure Investment Trust in the Indian power sector that has, operates and also manages power transmission networks as well as renewable energy assets worth US$ 3 billion. He has actually likewise functioned as the CFO for Sterlite Power and also IndiGrid.

" [Shah] is a tested leader that has deep understanding of India's power sector ecosystem and also just how it is rapidly advancing," stated Azure non-executive chairman of the board, Alan Rosling.

" We are confident that under his management, Azure will remain to scale new elevations in India's dynamic renewable energy field to supply grid-scale solar, wind and also hybrid projects to utility consumers, as well as commercial and commercial clients."

Gupta and Azure's chief running police officer Murali Subramanian surrendered on 26 April for concealed reasons. At the time, Gupta merely stated: "Murali as well as I have been privileged to have had the opportunity to guide this excellent company at a difficult time and lay the path forward. We leave the company with a great group as well as are confident in its future."

Despite suitable monetary results for last quarter, Azure had slipped back into loss following a go back to profitability last year. The business has an India-wide profile of over 7.4 GWs, with over 2.9 GWs of functional capability.

Shah is currently tasked with growing among India's largest clean energy firms. "India's renewable resource tale goes to an inflection factor with policy intent as well as innovative platforms coming together to lead the way for an amazing, sustainable future," he stated.

" I more than happy to join Azure Power at a time when we see an interesting as well as special market opportunity as the market executes energy transition in India."