Owing to unforeseen circumstances and matters beyond my control, I have decided to step down from my role of the CEO, Shah said.
“The Board has accepted Harsh’s resignation with deep regret. He joined us only from 1 July 2022 and we hoped that Harsh would be the leader to take the Company forward. However, we respect this unexpected decision and wish him and his family all the best for the future,” Alan Rosling, Chairman of the company’s board, said.
Commenting on his departure, Shah said the Indian renewable energy sector is thriving with a great potential to play a leadership role in energy transition globally and Azure is placed very well to seize the big growth opportunity that India presents, and he was looking forward to working with the team to deliver Azure’s potential.
“However, owing to unforeseen circumstances and matters beyond my control, I have decided to step down from my role of the Chief Executive Officer. I am thankful to the Board and the team for the warm welcome and support during my tenure and wish them luck to take Azure to greater heights,” he said.
The company said in a statement it will release a separate update today on other matters including future leadership following Shah’s departure.
Prior to Azure, Shah was the CEO at IndiGrid, India’s first and largest Infrastructure Investment Trust (InvIT) in the Indian energy sector. Shah has also served as CFO at Sterlite Power and worked with AGNI Inc., L&T Infrastructure Finance, Procter & Gamble and HEC Infra in the past.
Azure had developed India’s first utility scale solar project in 2009, and since then, has grown to become a large player in development and operation of large utility-scale renewable energy projects in the country.
The company also partners with commercial and industrial customers in their decarbonization journey by providing solutions for their clean energy needs.
