core sector communique

Shriram EPC wins 640 crore order to set up Solar Power Project

Chennai, 25 August, 2011: Shriram EPC Limited (SEPC), a leading service provider of integrated design, engineering, procurement, construction and project management services for power plants, renewable energy projects, process and metallurgical plants and municipal service sector projects throughout India and manufacturer of wind turbine generators, has announced that it has won its first order in the Solar Power Vertical.

SEPC has been awarded an order amounting to Rs. 640 crore from Abhijeet Projects Limited for a 50MW Solar Thermal Power Plant in the Jaisalmer district of Rajasthan. The Project is Owned by Corporate Ispat Alloys Limited (CIAL) which has won this 50 MW Solar Thermal Project through competitive bidding under Jawaharlal Nehru Solar Mission, has entered into 25 year PPA with NVVN.. CIAL also entered into a Technology agreement with Ener-T International Ltd, Israel for providing the Solar Technology to this project. SEPC will execute the EPC work in partnership with ENER-T International Limited, Israel- a leading Technology & Engineering provider for Solar Thermal Projects.

The scope of work includes the design, engineering, procurement, supply, erection, testing & commissioning for the entire project. In addition, the project entails setting up of a raw water storage system which includes a facility for pre-treatment of water and storage capacity for 60 days consumption. The project is scheduled for completion in 20 months.

Commenting on the contract, Mr. T. Shivaraman, Managing Director & CEO of Shriram EPC Limited, said, “This contract win is significant for Shriram EPC as it marks our foray into the solar power vertical. We have further broadened our service offerings in the renewable energy space as we now offer competencies in Wind Power, Biomass Power as well as Solar Power. We are actively pursuing opportunities in these verticals as we foresee strong prospects for the renewable energy industry in the future.

This order from Abhijeet Projects also adds to our healthy order backlog position. We are well placed for the next few quarters and are poised to grow given the diversified nature of orders in our backlog. We are focused on implementing these orders in an efficient manner to deliver high quality execution and to register commensurate margins. We are confident that our enhanced service offerings, timely delivery and focus on heightened efficiency will contribute to Shriram EPC’s continued overall growth.

About Shriram EPC

Shriram EPC (NSE: SHRIRAMEPC, BSE: 532945) is one of the leading service providers of integrated design, engineering, procurement, construction and project management services for power plants, renewable energy projects, process and metallurgical plants and municipal service sector projects throughout India and overseas, and is also a leading manufacturer of wind turbine generators (WTG).

The EPC business is focused on providing integrated turnkey solutions for biomass-based power plants, process and metallurgy plants (including cement & thermal power plants), water and wastewater treatment plants, water and sewer infrastructure and pipe rehabilitation. The WTG business is focused on manufacturing, erecting and commissioning of MW Class and KW class WTGs.

Shriram EPC is headquartered in Chennai with offices in Mumbai, New Delhi, Kolkata and Beijing; and WTG and cooling tower factories in Puducherry, Chennai and Umbergaon (Gujarat). Their EPC project experience and footprint reaches across 16 states in India, and internationally in Zambia and France, while their WTG business has completed wind energy projects throughout India.