Rohit Chandak, CFO, Ayana Renewable Power Limited received the ‘Young CFO of the Year’ award at India Solar Award 2020-21. EQ organized the award show through virtual mode on May 26, 2021.
The event was conducted for the solar industry of India based on the achievements of the year 2020-21.
Avantika Mishra, CFO Office, Ayana Power accepted the award on behalf of Rohit Chandak. “Thank You EQ Team for this award. He will keep up the good work.” Rohit Chandak, aged 37 years, has been serving Ayana Power as CFO since 2017. He has been part of the fast pace growth of Ayana Power.
Ayana Power is well placed to be amongst India’s largest Renewable Energy Company with a current portfolio of 144GW and a total capacity of 721 MW. Rohit Chandak worked to set up policy or procedures and built PF and F&A teams at Ayana since its inception. He also closed multiple project finance transactions.
The company continued its journey of fast track growth with many achievements in the year 2020. Major achievements of the company in 2020 include the completed acquisition of 40 MW operational assets of First Solar in Karnataka. The company received project finance for the same from Indian InfraDebt Limited.
In 2020, Ayana Power successfully concluded project financing for the 250 MW Ananthapuramu Solar Park Project from the State Bank of India. The company successfully commissioned 150 MW out of the 250 MW Ananthapuramu Solar Park Project. It also won the bid for the 300 MW SECI Solar ISTS project.
Ayana Renewable Power received additional equity funding of USD 390 Million from National Investment and Infrastructure Fund (NIIF), CDC Group plc and EverSource Capital in 2020. It resulted in taking the total equity funding for Ayana to USD 721 Million. With this additional equity, NIIF is expected to take over as the majority shareholder of Ayana Power.
