XL Telecom bags Rs l53.9 cr order to supply solar panels
XL Telecom has bagged an export order valued at Rs l53.9 crore, to supply solar panels to a a large power utility company in Europe.
By INDIATIMES NEWS NETWORK |
MUMBAI: XL Telecom has bagged an export order valued at Rs l53.9 crore, to supply solar panels to a a large power utility company in Europe. The company is bullish on becoming a vendor to this large power utility company and will get multiple repeat orders. XL���s subsidiary Saptashva is in the process of establishing solar farms for power generation in Europe.
XL Telecom has been focusing on the non-conventional energy sector, and recently on solar panels of higher capacity for niche grid connected segment. The company has been investing heavily the last 18 months to get orders from Europe and US for its products.
The order book for export of solar stands at Rs 6.75 billion.
XL Telecom recently concluded an FCCB issue raising $40 million for part funding its 120 MW solar cell manufacturing unit, along with expansion of module making capacity by another 40 MW fully automated plant at the SEZ at total capex of $75 million.
At 11:35 am, XL Telecom shares were down 4.02 per cent at Rs 195.90 on NSE.
XL Telecom has been focusing on the non-conventional energy sector, and recently on solar panels of higher capacity for niche grid connected segment. The company has been investing heavily the last 18 months to get orders from Europe and US for its products.
The order book for export of solar stands at Rs 6.75 billion.
XL Telecom recently concluded an FCCB issue raising $40 million for part funding its 120 MW solar cell manufacturing unit, along with expansion of module making capacity by another 40 MW fully automated plant at the SEZ at total capex of $75 million.
At 11:35 am, XL Telecom shares were down 4.02 per cent at Rs 195.90 on NSE.
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