, India

Azure Power top officials step down

The company has announced the resignation of its CEO and COO.

Azure Power Global Limited announced the company has accepted the resignation of Rajit Gupta and Murali Subramanian as its chief executive officer (CEO) and chief operating officer, respectively.

"Murali and I have been privileged to have had the opportunity to steer this great Company at a challenging time and lay the path forward,” Gupta said.

“We leave the Company with a great team and are con dent in its future." Gupta will also resign from the Board of Directors to pursue other opportunities.

In the interim, Alan Rosling, Chairman of the Board of Azure, will oversee the company. The Board, meanwhile, has started the selection process for the company’s new CEO.

“I would like to thank both Ranjit and Murali for their service and their e orts to navigate a challenging market environment,” Rosling said. “As we look ahead, with 4.5 GW of pipeline, we have tremendous runway for growth in the next three to four years.”

Azure builds and operates some of the largest grid-scale renewable power projects in India. It has a pan-India of over 7.4 gigawatts (GWs), of which more than 2.9 GWs are already operational whilst 4.5 GWs are in the pipeline.

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