Market Overview

Azure Power Announces Results of the 2018 Annual General Meeting of Shareholders


Azure Power (NYSE:AZRE), a leading independent solar power producer in
India, announced that it held its 2018 Annual General Meeting of
Shareholders on August 13, 2018. Each of the proposals submitted for
shareholder approval was approved.

Specifically, the shareholders (i) adopted the Annual Report of the
Company along with the Report of the Board of Directors and the Report
of the Auditors on the Financial Statements and the Form 20-F filed with
SEC for the year ended 31 March 2018, (ii) ratified the appointment of
Ernst & Young Associates LLP as the auditor (the "Auditor") to audit the
account of the Company for the fiscal year ending March 31, 2019 and to
authorize the Board or CFO to set the remuneration of the Auditor, (iii)
re-elect Mr. Muhammad Khalid Peyrye as the Company's director, (iv)
re-elect Mr. Rajendra Prasad Singh as the Company's director, and (v)
re-appoint Mr. Harkanwal S. Wadhwa as the Company's director.

About Azure Power

Azure Power (NYSE:AZRE) is a leading independent solar power producer
with a pan-Indian portfolio. With its in-house engineering, procurement
and construction expertise and advanced in- house operations and
maintenance capability, Azure Power provides low-cost and reliable solar
power solutions to customers throughout India. It has developed,
constructed and operated solar projects of varying sizes, from utility
scale, rooftop to mini & micro grids, since its inception in 2008.
Highlights include the construction of India's first private utility
scale solar PV power plant in 2009 and the implementation of the first
MW scale rooftop project under the smart city initiative in 2013.

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Forward Looking Statements

This press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended and the Private Securities Litigation Reform Act of 1995,
including statements regarding the Company's future financial and
operating guidance, operational and financial results such as estimates
of nominal contracted payments remaining and portfolio run rate, and the
assumptions related to the calculation of the foregoing metrics. The
risks and uncertainties that could cause the Company's results to differ
materially from those expressed or implied by such forward-looking
statements include: the availability of additional financing on
acceptable terms; changes in the commercial and retail prices of
traditional utility generated electricity; changes in tariffs at which
long term PPAs are entered into; changes in policies and regulations
including net metering and interconnection limits or caps; the
availability of rebates, tax credits and other incentives; the
availability of solar panels and other raw materials; its limited
operating history, particularly as a new public company; its ability to
attract and retain its relationships with third parties, including its
solar partners; its ability to meet the covenants in its debt
facilities; meteorological conditions and such other risks identified in
the registration statements and reports that the Company has filed with
the U.S. Securities and Exchange Commission, or SEC, from time to time.
In the press release, portfolio and the project represents megawatts
capacity of solar power plants pursuant to PPAs, signed or allotted or
where the Company has been cleared as one of the winning bidders or won
a reverse auction but has yet to receive a letter of allotment. All
forward-looking statements in this press release are based on
information available to us as of the date hereof, and the Company
assumes no obligation to update these forward-looking statements.

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