NEW DELHI--(BUSINESS WIRE)--
Azure Power (NYSE:AZRE), a leading solar power producer in India,
announced that early-stage investor and Board member, William “Bill”
Elmore of Foundation Capital, resigned from the company’s Board of
Directors today, which is the company’s fiscal year end. Foundation
Capital owns 14.5% of Azure Power’s outstanding shares and Foundation
Capital’s initial investment in Azure Power was in 2008.
Commenting on Mr Elmore’s decision, Mr. Inderpreet Wadhwa, Founder
and Chief Executive Officer, Azure Power said, "Bill and his venture
capital firm, Foundation Capital, have been great partners since their
initial investment nearly a decade ago. We want to thank Bill for his
efforts and contributions during his tenure at Azure to help this
company become a leader in the Indian Solar industry. We wish him well.”
Mr Elmore advised the Company that his decision to resign 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 (NYSE: AZRE) is a leading solar power producer in India with
a total portfolio of over 1,000 MWs across 18 states. It has developed,
constructed and operated solar projects of varying sizes, from utility
scale to rooftop, since its inception in 2008. Azure Power has a strong
track record in delivering solar power projects, from the construction
of India’s first private utility scale solar PV power plant in 2009,
implementation of the first MW scale rooftop under the smart city
initiative in 2013, to the largest solar plant (100 MW) under India’s
National Solar Mission (NSM) policy in Jodhpur, Rajasthan. 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
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Azure Power
Investor Contact
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Contact
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Source: Azure Power Global Ltd
