Home >Industry >Energy >Suzlon Group appoints Ashwani Kumar as group CEO

Mumbai: Suzlon Energy on Friday said it has appointed Ashwani Kumar as its group chief executive officer (CEO) according to a statement filed on the exchange.

Ashwani Kumar, has over three decades of experience in projects, business development and finance at leading Indian power and infrastructure companies, is an alumnus of IIM Bangalore and The Harvard Business School. He has led the construction of over 6,000 megawatts (MW) of power projects from bidding to commercial operations and has expertise in closing and managing large, complex contracts, effectively leveraging corporate affairs.

Suzlon Group Chairman and Managing Director Tulsi Tanti said "Ashwani Kumar brings with him a rich experience of power and infrastructure sectors in India. Renewable energy has transformed into a mainstream source of energy offering power plant scale solutions, making his experience highly relevant for us."

On the Occasion, Ashwani Kumar said "I have always followed Suzlon's journey with keen interest. I have great respect for the resilience and tenacity of the company and its stakeholders." He added that the business fundamentals are strong with compelling and credible operations. "I also believe that the time for wind and renewable energy to grow exponentially in India is now."

Suzlon reported a net loss of 397.87 crore for the quarter ending 30 June against a net loss of 335.11 crore for the same quarter last year. Net sales fell 38.5% to 512.67 crore in Q1 FY21 over 833.15 crore in Q1 FY20.

Suzlon Energy lost 2.11% to close at 2.78 on Friday on the BSE, while the benchmark index, Sensex gained 0.64% to 39982.98 points. From the beginning of the year, the stock gained 49% against a loss of 3% in the benchmark index, Sensex.

Suzlon Group is one of the leading renewable energy solutions provider in the world with a global presence across 18 countries in Asia, Australia, Europe, Africa and Americas.

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