AGEL has promoted Saurabh Shah as the new CFO of the company from October 1, 2024
He has financial management experience across Adani portfolio companies
Shah will take over from Phuntsok Wangyal, who leaves the company on September 30, 2024
Adani Green Energy Limited (AGEL) has elevated Saurabh Shah to the position of chief financial officer (CFO). Shah will assume his duties from October 1, 2024, when outgoing CFO Phuntsok Wangyal will leave the company.
Wangyal has been working as AGEL’s CFO since September 2022. Previously, he worked in various positions including CFO with Engie India, for over 6 years. He has rendered his resignation and will leave the company on September 30, 2024, to pursue other career interests.
Shah’s appointment will elevate him from the position of deputy CFO at Adani Enterprise, the flagship company of the Adani portfolio. He brings over 22 years of experience in financial management within the Adani group of companies, including roles in financial accounting, reporting, planning, budgeting, internal controls, liquidity management, and investor relations.
AGEL board said that Shah’s strategic appointment is part of the Adani Leadership Acceleration Program (ALAP). This is a 6-year initiative of the group to develop diverse and skilled leaders across its portfolio companies.
AGEL claims its renewable energy portfolio of 11.2 GW is the largest in India, spread across 12 states. It targets to scale it up to 50 GW by 2030. Apart from wind and solar, it also develops, owns and operates utility-scale grid-connected solar, wind, hybrid and hydro pumped storage renewable energy power plants.