- This appointment takes the number of board seats from Caisse de dépôt et placement du Québec to two
- Previously, Deepak Malhotra worked with International Finance Corporation
Solar power producing company Azure Power has appointed Deepak Malhotra, Director, Infrastructure, South Asia at Caisse de dépôt et placement du Québec (CDPQ) to its Board of Directors. Before joining CDPQ in 2018, Deepak Malhotra worked with International Finance Corporation (IFC), World Bank Group, where he led many debt and equity investments in the infrastructure sector. Before IFC, he worked with a leading credit rating agency in India and in merchant navy.
Ranjit Gupta, chief executive officer, Azure Power said, “We are pleased to welcome Deepak Malhotra as a Director on our board. The addition of Deepak will provide a valuable perspective as we continue to execute our strategy, drive profitability and enhance value for shareholders. We are honoured to have CDPQ’s trust in Azure Power and to see their commitment to the solar sector in India.”
CDPQ holds an equity position of more than 41 per cent in Azure Power
This appointment takes the number of board seats from CDPQ to two. CDPQ, a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans, with CA$326.7 billion in net assets. It is Azure Power’s largest individual shareholder and holds an equity position of more than 41 per cent.
