Azure Power, a leading independent solar power producer in India, announced the appointment of Sushil Bhagat, former CFO of Hindustan Power Projects (HPPL), as the new Chief Financial Officer of Azure Power.
Bhagat comes on board with over 30 years of experience of in corporate and investment banking. After transitioning to HPPL, he worked extensively on fund raising and inorganic growth opportunities. As a previous investment banker, he raised $12+ bn 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 bn 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.
SK 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.