NEW DELHI--(BUSINESS WIRE)--
Azure Power (NYSE: AZRE), a leading independent solar power producer in
India, announced that Dr R. P. Singh, former Chairman and Managing
Director (CMD) of Power Grid Corporation, a Government of India
Enterprise and India’s largest electric transmission utility, was
appointed to Azure Power’s Board of Directors as an independent
non-executive Director.
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Rajendra Prasad Singh, Director, Azure Power (Photo: Business Wire)
Dr R.P. Singh is known for his contributions in the Indian power sector,
particularly the establishment of the national power transmission grid
and modern load dispatch centers. During his tenure as CMD of Power
Grid, he was responsible for establishing several high profile projects,
especially building a 2,100 kilometer transmission system in 33 months
with an investment of INR 33 billion which was well ahead of schedule
and under budget. This feat was recognized by the then Hon’ble Prime
Minister of India. His expertise in grid management and recovery is
widely recognised and he was invited by the US Department of Energy and
Federal Energy Regulatory Commission (FERC) following the grid issues in
the US Northeast in 2003. He was responsible for restoration and
normalization of grid operation during natural calamities in India. He
is the recipient of many national and international awards including
from the World Bank, Electric Power Research Institute (EPRI, USA), and
the SCOPE Excellence Award. He is a respected author and has published
several books and was conferred with a Doctorate Degree in Science
(Honoris Causa) from Banaras Hindu University.
Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman and
Chief Executive Officer, Azure Power said,“We are pleased to
welcome Dr R.P. Singh as a Director on our Board. Dr Singh is well
recognized in the Indian energy sector especially for his contribution
in the power generation, transmission, policy and grid infrastructure.
His solid reputation for disciplined execution will help Azure Power
tremendously in the next phase of growth in becoming one of the largest
solar power companies in India.”
Commenting on the appointment, Dr R. P. Singh said,"Azure
Power is an established leader in the solar industry in India and it
gives me immense pleasure to join its esteemed board. Azure Power offers
an attractive value proposition for Indian solar power customers by
utilizing the best technology with unmatched execution expertise and
experience. I look forward to working with Azure Power’s Board and team
to drive long term value for all stakeholders.”
About Azure Power
Azure Power (NYSE: AZRE) is a leading independent solar power producer
in India with a portfolio of over 1,600 MWs across 22 states/union
territories. With its in-house engineering, procurement and construction
expertise and advanced in-house operations and maintenance capability,
Azure Power provides low-cost and reliable solar power solutions to
customers throughout India. It has developed, constructed and operated
solar projects of varying sizes, from utility scale to rooftop, since
its inception in 2008. Highlights include the construction of India’s
first private utility scale solar PV power plant in 2009 and the
implementation of the first MW scale rooftop project under the smart
city initiative in 2013.
For more information, visit: www.azurepower.com.
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended and the Private Securities Litigation Reform Act of 1995,
including statements regarding the Company’s future financial and
operating guidance, operational and financial results such as estimates
of nominal contracted payments remaining and portfolio run rate, and the
assumptions related to the calculation of the foregoing metrics. The
risks and uncertainties that could cause the Company’s results to differ
materially from those expressed or implied by such forward-looking
statements include: the availability of additional financing on
acceptable terms; changes in the commercial and retail prices of
traditional utility generated electricity; changes in tariffs at which
long term PPAs are entered into; changes in policies and regulations
including net metering and interconnection limits or caps; the
availability of rebates, tax credits and other incentives; the
availability of solar panels and other raw materials; its limited
operating history, particularly as a new public company; its ability to
attract and retain its relationships with third parties, including its
solar partners; its ability to meet the covenants in its debt
facilities; meteorological conditions and such other risks identified in
the registration statements and reports that the Company has filed with
the U.S. Securities and Exchange Commission, or SEC, from time to time.
All forward-looking statements in this press release are based on
information available to us as of the date hereof, and the Company
assumes no obligation to update these forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171026005875/en/
Azure Power
Investor Relations
Nathan Judge, CFA
[email protected]
or
Marketing
Samitla
Subba
[email protected]
+91-11-
4940 9854
Source: Azure Power Global Ltd
