Harsh Shah To Take Over As CEO At Azure Power From July 1

Azure Power has announced the appointment of Harsh Shah as CEO. He follows in the wake of the exit of Ranjit Gupta last month.

Shah was previously the Chief Executive Officer of IndiGrid, India’s first and largest Infrastructure Investment Trust (InvIT) in the Indian energy sector. It owns, operates, and manages power transmission networks and renewable energy assets worth US $3 billion. He has also served as the Chief Financial Officer for Sterlite Power and IndiGrid.

Commenting on the appointment, Alan Rosling, Chairman of the Board of Azure, said, “We are excited to welcome Harsh to Azure Power. He is a proven leader who has deep knowledge of India’s energy sector ecosystem and how it is rapidly evolving. We are confident that under his leadership, Azure will continue to scale new heights in India’s vibrant renewable energy sector to offer grid-scale solar, wind, and hybrid projects to utility customers, as well as commercial and industrial customers. We wish Harsh all the best as we work together to strengthen Azure’s position as a leader in the renewable energy space.

Shah, said, “India’s renewable energy story is at an inflection point with policy intent and innovative platforms coming together to pave the way for an exciting, sustainable future. I am happy to join Azure Power at a time when we see an exciting and momentous market opportunity as the industry implements energy transition in India. We have tremendous runway for growth to increase our operating assets sustainably, thanks to the support of our long-term investors and lenders. I am looking forward to work with the team at Azure to take this story forward to greater heights.”

Azure builds and operates some of the largest grid-scale renewable power projects in India, supplying renewable power to government utilities, and independent industrial and commercial customers. The Company has a pan-India portfolio of over 7.4 GWs, with over 2.9 GWs of operational capacity. The company was one of the two to be selected under the manufacturing linked solar tender from SECI, and recently also completed a rights issue of $250 million at the NYSE, where it is listed.