Reinforcing Azure Power’s leadership in the solar industry, Robert Kelly’s appointment as an Independent Director will further drive the company’s endeavor to bring in the right expertise on board and strengthen company’s strong governance, the company said in a statement.
Robert Kelly is amongst the most established and respected financial professionals in the Solar Industry globally and his induction will help Azure Power bring in some of the industry’s international best practices in the industry, the statement said.
Robert Kelly brings with him over three decades of experience.
Till recently, Robert served as Chief Financial Officer of SolarCity Corporation, a distributed solar energy company for almost three years, wherein he implemented financial strategy raising $4.2 billion, including their IPO, industry first Solar Securitization and multiple tax equity investments.
He also introduced business valuation methodology for rooftop solar which has become the industry benchmark. His efforts at SolarCity Corp. ensured that the company grew significantly and today, is a $ 7.2b company in the US.
Prior to SolarCity Corp., he also served as Chief Financial Officer of Calera Corporation, a clean technology company for over two years and as an independent consultant, providing financial advice to retail energy providers and power developers.
Before this, Robert was with Calpine Group for more than a decade at various leadership roles. Robert managed Calpine Corp. (CPN)’s 1996 initial public offering. He has worked with Westinghouse Credit Corporation, Lloyds Bank and with The Bank of Nova Scotia in various positions.
Commenting on his appointment, Robert Kelly, said, “It’s an honour to join the board of Azure Power. The incredible growth and demand in India's renewable solar power markets has positioned Azure to become a major energy company. It offers an attractive value proposition for India power costumers by utilizing the best technology with unmatched world-class execution expertise and experience. I look forward to working with the Azure Power board and team, as we embark on this exciting journey and contribute to company’s growth story.”
“We are extremely pleased to welcome Bob as a new board member at Azure Power. With an illustrious career under various leadership and strategic roles in the Solar Industry, Bob’s appointment will help Azure continue its fast paced growth, to become the largest solar power provider globally which in turn will help the country achieve its clean energy objectives under the National Solar Mission, JNNSM," said Inderpreet Wadhwa, Founder & CEO, Azure Power.
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