Business Wire India
Azure Power (NYSE: AZRE), a leading independent solar power producer in India, announced the appointment of Sushil Bhagat, former CFO of Hindustan Power Projects Ltd. (HPPL), as the new Chief Financial Officer of Azure Power.
Sushil Bhagat comes on board with over 30 years of experience of working with corporate and investment banking and then transitioning to HPPL where he worked extensively on fund raising and inorganic growth opportunities. As a previous investment banker, he raised $12+ billion of funds and led complex advisory and M&A assignments across all infrastructure sectors. Subsequently, he has headed finance, commercial and strategy functions at Coastal Projects and helped it achieve an enterprise value of over $4 billion in six years. Sushil has supervised 1,200 MWs of thermal and 400+MWs of solar power assets while at HPPL. He has also served in various corporate leadership roles at Coastal Projects, Wachovia, Axis Bank and State Bank Group.
S.K Gupta, former CFO of Azure Power has been appointed Executive Vice President – O&M and will head the O&M business unit to manage the company’s fast-growing fleet of assets.
Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “We are pleased to welcome Sushil Bhagat as the Chief Financial Officer of Azure Power. Given his proven track record, we are confident that he will be a strong leader for our business and a great addition to the management team. We are also excited to have S.K Gupta take over the O&M business unit. He brings a wealth of experience to optimize our significant and fast growing portfolio.”
Commenting on his appointment, Sushil Bhagat said, “Azure Power is an established leader in the solar industry in India that offers an attractive value proposition for Indian power customers by utilizing the best technology with unmatched word-class execution, expertise and experience. I look forward to growing the Azure Power platform to the next level.”