XL Telecom to enter into power generation
XL Telecom & Energy plans to enter the power generation segment with initial investments in Spain, the current global destination for Grid Connected Solar Energy.
By INDIATIMES NEWS NETWORK |
MUMBAI: XL Telecom & Energy plans to enter the power generation segment with initial investments in Spain, the current global destination for Grid Connected Solar Energy.
Saptashva Solar, a subsidiary of the company, will establish a series of "Solar Farms" for power generation in Spain with a 28 MW capacity target for the first year. The medium term target is to install close to 200 MW of these farms in Spain and surrounding Portugal alone. Other countries are also being explored for establishing such farms to avail of the benefits offered and to go up the solar "value chain".
The project is expected to have 25 year PPA from the local utility company. Saptashva will generate on first full year of operations with this capacity about Euro 17.740 million, or Rs 100 crore, with 20 per cent margins for next 25 years.
The first solar farm of 2.3 mw will be implemented before March 2008 and the balance would get installed by December 2008. The project is expected to have debt equity ratio of 1:4 and will be funded by local banks.
As the investments are being made in the subsidiary of XL Telecom & Energy, the company do not envisaging any dilution in the parent company.
At 12:27 pm, XL Telecom & Energy shares were up 3.81 per cent at Rs 523 on BSE.
Saptashva Solar, a subsidiary of the company, will establish a series of "Solar Farms" for power generation in Spain with a 28 MW capacity target for the first year. The medium term target is to install close to 200 MW of these farms in Spain and surrounding Portugal alone. Other countries are also being explored for establishing such farms to avail of the benefits offered and to go up the solar "value chain".
The project is expected to have 25 year PPA from the local utility company. Saptashva will generate on first full year of operations with this capacity about Euro 17.740 million, or Rs 100 crore, with 20 per cent margins for next 25 years.
The first solar farm of 2.3 mw will be implemented before March 2008 and the balance would get installed by December 2008. The project is expected to have debt equity ratio of 1:4 and will be funded by local banks.
As the investments are being made in the subsidiary of XL Telecom & Energy, the company do not envisaging any dilution in the parent company.
At 12:27 pm, XL Telecom & Energy shares were up 3.81 per cent at Rs 523 on BSE.
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