Appointment of M.S. Unnikrishnan as a Director on the Board of Azure Power Global Limited

NEW DELHI, Aug. 21, 2020 /PRNewswire/ — Azure Energy (NYSE: AZRE), a number one solar energy producer in India, introduced that M.S Unnikrishnan, quickly retiring-Managing Director and CEO of Thermax Ltd., was appointed to Azure Energy’s Board of Administrators as a non-executive and nominee Director of Caisse de dépôt et placement du Québec (CDPQ), which is a AAA debt rated, long-term institutional investor that manages funds primarily for public and parapublic pension and insurance policy in Canada with over CA$300 billion in belongings underneath administration and is Azure Energy’s largest particular person shareholder with 50.7% possession.

Mr. Unnikrishnan has over 30 years of expertise within the power and environmental sector. In his most up-to-date position as Managing Director and CEO of Thermax Ltd., he led the implementation of a method to speed up Thermax’s progress and place it as one of many main suppliers of energy programs and gear with a market capitalisation of over US$1 billion. Thermax Ltd has been acknowledged for having exemplary administration, robust company governance, glorious transparency and stringent moral practices. Mr. Unnikrishnan has acquired quite a few accolades for his management together with Asia Innovator of the Yr by CNBC Asia, among the finest CEOs in India by Grant Thorton, and India Innovator of the Yr by CNBC India. Mr. Unnikrishnan can be actively concerned with varied trade our bodies to assist in coverage making and expertise growth for India. Mr. Unnikrishnan has a Bachelor of Engineering (Mechanical) from Visveswaraiya Nationwide Institute of Expertise, Nagpur and Superior Administration Program from Harvard Enterprise Faculty.

Talking on the appointment, Ranjit Gupta, Chief Government Officer, Azure Energy mentioned, “We’re happy to have Mr. Unnikrishnan be a part of our Board. His robust monitor report coupled together with his expertise managing and main one of the vital admired corporations within the energy sector over greater than a decade will present a helpful perspective as we proceed to execute our technique, drive profitability and improve worth for shareholders.”

Commenting on the appointment, M.S. Unnikrishnan mentioned “Azure Energy is a number one participant within the Indian solar energy sector. I’m glad to affix the Board of a corporation with such a powerful dedication to sustainability and governance. I look ahead to working with the opposite members of the Board to steer Azure Energy via the following section of its progress journey.”

About Azure Energy

Azure Energy (NYSE: AZRE) is a number one impartial solar energy producer with a pan-India portfolio over 7 gigawatts. Azure Energy developed India’s first non-public utility scale photo voltaic mission in 2009 and has been on the forefront within the sector as a developer and operator of photo voltaic initiatives since its inception in 2008. With its in-house engineering, procurement and building experience and superior in-house operations and upkeep functionality, Azure Energy manages your entire growth and operation course of, offering low-cost solar energy options to clients all through India. For extra data, go to: www.azurepower.com.

Ahead Wanting Statements

This press launch comprises forward-looking statements inside the which means of Part 21E of the Securities Trade Act of 1934, as amended and the Non-public Securities Litigation Reform Act of 1995, together with statements concerning the Firm’s future monetary and working steering, operational and monetary outcomes corresponding to estimates of nominal contracted funds remaining and portfolio run fee, and the assumptions associated to the calculation of the foregoing metrics. The dangers and uncertainties that would trigger the Firm’s outcomes to vary materially from these expressed or implied by such forward-looking statements embrace: the supply of further financing on acceptable phrases; modifications within the business and retail costs of conventional utility generated electrical energy; modifications in tariffs at which long run PPAs are entered into; modifications in insurance policies and laws together with internet metering and interconnection limits or caps; the supply of rebates, tax credit and different incentives; the supply of photo voltaic panels and different uncooked supplies; its restricted working historical past, notably as a brand new public firm; its skill to draw and retain its relationships with third events, together with its photo voltaic companions; its skill to fulfill the covenants in its debt services; meteorological circumstances points associated to the corona virus; provide disruptions; energy curtailments by Indian state electrical energy authorities and such different dangers recognized within the registration statements and stories that the Firm has filed with the U.S. Securities and Trade Fee, or SEC, occasionally. All forward-looking statements on this press launch are based mostly on data accessible to us as of the date hereof, and the Firm assumes no obligation to replace these forward-looking statements.

Investor ContactNathan Choose, CFAir@azurepower.com

Media Contact  Samitla Subba pr@azurepower.com

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SOURCE Azure Energy