Harsh Shah, Managing Director of Azure Power Global Limited, has announced his resignation.
Harsh Shah announces his resignation
He had joined Azure Power in July 2022. His decision came as a general surprise to the company.
Alan Rosling, Chairman of the Board, comments:
“The Board of Directors has accepted Harsh’s resignation with deep regret. He did not join us until July 1, 2022, and we had hoped that Harsh would be the leader to move the company forward.”
He took over the position from Ranjit Gupta, who had previously been there for 3 years. Harsh could have been a major asset to the company.
In fact, Mr. Shah was the former CEO of IndiGrid, the largest Indian renewable energy investment fund. The company also specialized in electrical and solar management and transmission. Related to KKR and Sterlite Power, of course Harsh Shah held important positions, especially in Sterlite Power’s finances.
Alan Rosling appreciated his multiple hats and experiences when he took over. In addition, Mr. Shah has extensive knowledge of the country’s renewable sector.
Harsh Shah expressed his delight in working for the company at a time when India is investing in its energy independence and sustainability.
Azure Power is expanding rapidly and is multiplying its partnerships with Siemens Gamesa and Premier Energies. The company is an independent producer and developer of photovoltaic power plants with a significant impact in India. In fact, in 2009, the company inaugurated the country’s first solar project to provide electricity to the utility.
For the moment, the reasons for his departure remain unknown. Azure Power is organizing to find a successor to Harsh Shah.
Harsh did, however, offer his regrets:
“Azure is certainly very well positioned to capture the great growth opportunity that India represents, and I was looking forward to working with the team to realize Azure’s potential. However, due to unforeseen circumstances beyond my control, I have decided to step down from my role as CEO.”
