UAE-based company Mulk Holding has announced an agreement with Bangalore-based Aditya Solar Power Industries to develop a 200 megawatt solar thermal project in the UAE.
The holding company said one of its subsidiaries, Mulk Renewable Energy
, will supply and install solar thermal power plants for Aditya Solar in a deal valued at 2 billion dirhams (USD 545 million).
According to the agreement, Mulk Renewable Energy will create a joint venture with Aditya Solar to develop the project.
"The project will be implemented in two phases. Phase one will see the execution of a 40 MW plant by 2012 and the balance of 160 MW by 2013," the company said in a statement. Mulk Renewable Energy will have a 25 per cent equity stake in the first 40 MW.
"Major components will be manufactured in the UAE and exported to India for the initial phase and a full-fledged manufacturing facility of 500 MW capacity will be established in India for the next phases," it said.
Mulk Holding has invested 5 million dirhams in research and development of solar plants and expects a 500-million-dirham revenue from the first year of operation of the power plant.
The holding company said one of its subsidiaries, Mulk Renewable Energy
, will supply and install solar thermal power plants for Aditya Solar in a deal valued at 2 billion dirhams (USD 545 million).
According to the agreement, Mulk Renewable Energy will create a joint venture with Aditya Solar to develop the project.
"The project will be implemented in two phases. Phase one will see the execution of a 40 MW plant by 2012 and the balance of 160 MW by 2013," the company said in a statement. Mulk Renewable Energy will have a 25 per cent equity stake in the first 40 MW.
"Major components will be manufactured in the UAE and exported to India for the initial phase and a full-fledged manufacturing facility of 500 MW capacity will be established in India for the next phases," it said.
Mulk Holding has invested 5 million dirhams in research and development of solar plants and expects a 500-million-dirham revenue from the first year of operation of the power plant.
Srikanth Nyshadham
+91-98665-06729
0 comments:
Post a Comment