Azure Power is looking for a new chairman and CEO after Inderpreet S. Wadhwa announced his retirement earlier this week. Azure, one of the most aggressive solar players in India, has around 3,000 MW (1,400 MW operational) projects in different stages.
The company bagged 11 per cent of the 13 GW solar auctions, which happened last year and was next only to Manoj Upadhyay-led ACME Solar (16 per cent) and SoftBank Group’s SB Energy (15 per cent).
Wadhwa cited personal commitments as the reason to move on. He had launched Azure in 2008. Today the group has projects across 23 states, including Rajasthan, Punjab, Gujarat, Chhattisgarh, and Uttar Pradesh.
The new CEO will have to maintain the same pace, which may be difficult. In fact, he will also have to work on improving the efficiency of existing projects as well as improve margins. Read More