Thermax’s M.S. Unnikrishnan Appointed as Director on Azure Power’s Board

Country’s one of the leading independent power producer (IPP) Azure Power said that M.S Unnikrishnan, Managing Director and CEO of Thermax Ltd, an energy and environment solutions company, has been appointed on its Board as a non-executive and nominee Director of CDPQ.

August 24, 2020. By Manu Tayal

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Country’s one of the leading independent power producer (IPP) Azure Power said that M.S Unnikrishnan, Managing Director and CEO of Thermax Ltd, an energy and environment solutions company, has been appointed on its Board as a non-executive and nominee Director of CDPQ.

Unnikrishnan will be soon retiring from Thermax Ltd as its Managing Director and CEO.

Caisse de dépôt et placement du Québec (CDPQ) is a AAA debt rated, long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans in Canada with over CAD 300 billion in assets under management. It is also Azure Power’s largest individual shareholder with 50.7 per cent ownership.

Unnikrishnan will bring with himself more than 30 years of experience in the energy and environmental sector. In his current role at Thermax, he led the implementation of a strategy to accelerate the company’s growth and position it as one of the leading suppliers of power systems and equipment with a market capitalisation of more than USD 1 billion.

“Azure Power is a leading player in the Indian solar power sector. I am glad to join the Board of an organization with such a strong commitment to sustainability and governance. I look forward to working with the other members of the Board to lead Azure Power through the next phase of its growth journey,” said M.S. Unnikrishnan upon his joining on Azure Power’s Board.

During his service, he has received numerous accolades for his leadership including Asia Innovator of the Year by CNBC Asia, one of the best CEOs in India by Grant Thorton, and India Innovator of the Year by CNBC India. Besides, he is also actively involved with various industry bodies to help in policy making and technology development for India.

On the educational background, he has a Bachelor of Engineering (Mechanical) from Visveswaraiya National Institute of Technology, Nagpur and Advanced Management Program from Harvard Business School.

On Unnikrishnan’s appointment, Ranjit Gupta, Chief Executive Officer of Azure Power said that, “we are pleased to have Unnikrishnan join our Board. His strong track record coupled with his experience managing and leading one of the most admired companies in the power sector over more than a decade will provide a valuable perspective as we continue to execute our strategy, drive profitability and enhance value for shareholders.”

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