Source: Business Wire
Friday, April 20, 2012 09:55 AM IST (04:25 AM GMT)
Editors: General: Consumer interest; Business: Business services, Energy companies; Technology
(BW)(AEG-POWER-SOLUTIONS)(3W9)AEG Power Solutions Achieves Stellar Performance for Solar Installations across India
Solar solutions orders totaling 34 MW booked since January 2012 The first 4 months solar orders are thus exceeding full 2011 (33.5 MW)
Zwanenburg, Netherlands and Bangalore, Karnataka, India, Friday, April 20, 2012 -- (Business Wire India) --
AEG Power Solutions today announced that 40 MW have been installed since the beginning of operations in India and that 34 MW have been booked since January 2012 when 33.5 MW had been awarded for the year 2011. The orders consisted of complete electrical systems, including inverters, monitoring and measurement equipment, to equip solar plants throughout India, mostly in the state of Gujarat.
Bangalore (India) Solar Inverters facility AEG Power Solutions (Photo: Business Wire)
The completed projects include several within the renowned Gujarat 500 MW Solar Park. The state's long-term power purchase program involves agreements with 80 project developers, to commission almost 1,000 MW of solar generation capacity by the end of 2013. The AEG Power Solutions 1 MW solar plant supplied to EI Technologies was the first project commissioned at the 500 MW Gujarat Solar Park. "We were aiming to be the first developer to commission a plant in the Gujarat Park and felt confident that AEG Power Solutions' expertise would help us do so," said Mr. N. Ranganath, Chairman & Managing Director, EI Technologies. "We selected AEG Power Solutions over a dozen competitors because of their straightforward, honest approach. They lived up to the faith we bestowed on them, commissioning our plant well before the deadline."
"We were very impressed with AEG's technology presentation," added Mr. Suchindra Dikshit, EI Technologies Project Coordinator. "The successful installations in Gujarat demonstrate the reactivity and efficiency of our team and show that we are strengthening our market position," said Sridhar Murthy, AEG Power Solutions Managing Director in India.
All told, 11 MW of AEG Power Solutions installations in India had been commissioned by year-end. What is more, the various installations were built to multiple grid evacuation voltages -- 11, 33, and 66 KV.
AEG Power Solutions also successfully executed projects for M/S Saisudhir Energy Limited, as part of the National Solar Mission. "We have strong faith in AEG Power Solutions products and their ability to match performance to specifications," commented Mr. P. Udaya Sankar, Director & Chief Operating Officer of SaiSudhir Energy Limited. "We are sure AEG Power Solutions can meet any type of demand with timely supplies and project execution."
AEG Power Solutions commitment to customers throughout India is rooted in the company's manufacturing facility in Bangalore, inaugurated in October 2011. In January 2012 alone, the plant recorded orders for inverters and monitoring solutions representing about 34 MW of generating capacity in Q1 2012 All AEG Power Solutions inverters for Indian customers are manufactured at the Bangalore facility, which now employs about 100 people. "We invested in the plant to prove our commitment and to become a major player in India," said Managing Director Sridhar. "The latest results show that our strategy is working."
About AEG Power Solutions
AEG Power Solutions is a global supplier of power electronics systems and solutions for all industrial power supplies. The company provides one of the most comprehensive product and service portfolios in power conversion and power control. Two complementary operating business segments, Renewable Energy Solutions (RES) and Energy Efficiency Solutions (EES), serve customers worldwide. The RES product and service portfolio consists of systems and solutions for solar power plants, such as solar inverters, monitoring and control systems as well as power controllers. The EES product and service portfolio includes high performance uninterruptable power supplies (USPs), industrial power controllers and DC converters.
Thanks to its distinctive expertise, bridging both AC and DC power technologies and spanning the worlds of both conventional and renewable energy, the company creates innovative solutions for smart grids.
AEG Power Solutions' global footprint includes 17 subsidiaries and competence centers around the world, employing 1,650 employees.
AEG Power Solutions Group, headquartered in Zwanenburg, the Netherlands, is the sole subsidiary of the holding company 3W Power S.A. (WKN A0Q5SX / ISIN GG00B39QCR01). 3W Power is registered in Luxembourg. 3W Power shares are traded on the Frankfurt Stock Exchange (ticker symbol: 3W9); warrants are traded on NYSE Euronext, Amsterdam (ticker symbol: 3WPW).
For more information go to: www.aegps.com.
This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of 3W Power. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power.
3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.
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AEG Power Solutions
Vijayabaskar Kodumudi, +91 80 67466000
Regional Product Manager Asia (Solar)
Mobile: +91 9686450281
Ute von Cranach, +49 2902 763 256
Marketing Communications RES
Mobile: +49 170 574 9094
DiD: +91 80 674661099
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