NEW DELHI, Aug. 5, 2020 /PRNewswire/ -- Azure Power (NYSE:
AZRE), a leading solar power producer in India, announced that
Ms. Supriya Prakash Sen has been
appointed to Azure Power's Board of Directors as an independent
non-executive Director. Ms. Sen's appointment expands the Board to
10 directors, seven of whom are independent as per NYSE guidelines
and two are female.
Ms. Sen has over 30 years of experience in banking, private
equity, capital markets and multilateral funding and investment as
well as a significant involvement in sustainability initiatives
globally and in India. Currently a
Senior Advisor with Mckinsey & Co, she also serves as
independent director for firms and non-profits in Asia where her emphasis has been on strategy,
governance and fund-raising. As strategy consultant she has
advised clients in South East
Asia, South Asia and
China on innovative financing,
policy and strategy development in transport, energy, urban and
sustainable finance projects. She has also worked on differentiated
funding models for enabling private investment into green
infrastructure.
Previously, she worked as a private equity investor and project
finance banker on climate- smart transactions in energy, mobility,
telecom, urban & water, social infrastructure, and banking
sectors in India, China, South East
Asia and Middle East, and
in advisory and investment roles within Public Private Partnership
(PPP) infrastructure projects for banks and financial institutions
such as Citigroup Global Markets, Asian Development Bank, and the
World Bank Group.
She has also served as Board director/ advisor to firms and
non-profits, including a Singapore-based digital platform connecting
Fintechs to Financial institutions globally, a UK-registered fund
which educates under-privileged children in Cambodia, a Singapore-based charity that provides free
riding therapy to disabled children in Singapore, a health charity that provides
services to stroke survivors in Singapore, and a zero-waste city development
initiative in India.
Speaking on the appointment, Ranjit
Gupta, Chief Executive Officer, Azure Power said,
"Supriya brings a wealth of relevant experience and knowledge,
given her expertise in sustainability and financing in the
energy and infrastructure space. We are confident that her addition
as a director on our board will provide a valuable perspective and
further strengthen the company's strong governance."
Commenting on the appointment, Supriya Prakash Sen said "Azure Power has
been leading energy transformation in India through its innovative solar energy
platform and its commitment to advancing sustainability practices
in the country. I am delighted to join the board of an organization
whose primary purpose is to strengthen sustainable development in
the energy sector; and I look forward to working with the other
directors at Azure Power on capitalizing on growth opportunities,
while enhancing value for all stakeholders and the community."
Supriya has an honours undergraduate degree in engineering from
Bangalore University and an MBA
from Indian Institute of Management Calcutta. Over the years, she
also completed various executive development programs in strategic
innovation, public policy and governance at Kennedy School of
Government, Singapore Institute of Directors and Harvard Business School.
About Azure Power
Azure Power (NYSE: AZRE) is a leading independent solar power
producer with a pan-India
portfolio over 7 gigawatts. Azure Power developed India's first private utility scale solar
project in 2009 and has been at the forefront in the sector as a
developer and operator of solar projects since its inception in
2008. 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.
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 issues related to the corona
virus; supply disruptions; power curtailments by Indian state
electricity authorities 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.
Investor Contact
Nathan
Judge, CFA
ir@azurepower.com
Media Contact
Samitla Subba
pr@azurepower.com
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SOURCE Azure Power