Monday, February 25, 2013

AEG Power Solutions is Awarded a Major Solar Contract in India


BANGALORE--(BUSINESS WIRE)--AEG Power Solutions, a leading global manufacturer of power electronic systems and solutions for industrial power supplies and renewable energies, was awarded a 30 MW solar power plant project from the pioneers of Renewable Energy Certificate Mechanisms in India, M and B Switchgears Ltd.

Located in Madhya Pradesh, M and B Switchgears Ltd. will be provided with high reliability inverters for their solar power plant by AEGPS (India) within the first quarter of 2013.

“We are thrilled to have bagged this contract. We start the year with two major achievements: this 30MW contract and totaling orders over 100MW within the last one year. The growing energy demand in the country requires an uninterruptable power supply and a reliable infrastructure for industrial power users. AEG PS offers a consistent product portfolio covering these demands perfectly,”said Sridhar Murthy, Managing Director of AEG Power Solutions in India.

Mr. Vikalp Mundra, Director M and B Switchgears Ltd said “We are glad to have AEGPS as our partners on board for this project. M and B Switchgears was the first solar power producer in India to be issued 249 solar Renewable Energy Certificates. Partnering with AEGPS, known for their premium quality and highly efficient products, will further strengthen our commitment towards an alternative energy future.”
“Developing ourselves in India meant facing specific challenges; technical challenges due to location and climates, as well as market challenges due to fierce competition. This contract is a success for our Indian team and a step forward in our development on the Indian solar market”, explains Bob Roos, VP Solar Strategic Business Unit of AEG Power Solutions.

With a strong service capability and a local state-of-the-art manufacturing facility for centralized solar inverters, AEGPS has met varied customer expectations despite the market challenges in the last twelve months.

About AEG Power Solutions
AEG Power Solutions (AEG PS) Group is a global provider of power electronics systems and solutions for all industrial power requirements offering one of the most comprehensive product and service portfolios in the area of 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 for a wide range of industrial applications such as polysilicon, energy storage, sapphire and glass. The EES product and service portfolio includes high-performance uninterruptable power supplies (UPSs), industrial chargers, DC systems and 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 PS’ global footprint includes 17 subsidiaries and competence centers around the world with 1,600 employees.

AEG Power Solutions Group is the sole subsidiary of the holding company 3W Power S.A. (WKN A0Q5SX / ISIN GG00B39QCR01), based in Luxembourg. The Group is headquartered in Zwanenburg in the Netherlands. The shares of 3W Power are admitted to trading on Frankfurt Stock Exchange (ticker symbol: 3W9).

For more information, visit www.aegps.com.

About M and B Switchgears Ltd.

M and B Switchgears Ltd. has been one of the most trusted names, in the business of transformer manufacturing of India over last 3 decades. Under the stewardship of its Chairman, Mr. S. S. Mundra, the Company has grown from being small scale transformer manufacturers to a publicly listed entity. The Company’s diverse activity ranges from manufacturing of transformers (distribution of power) to exploiting of Renewable sources of energy (generation of power). The Chairman is now ably assisted by young directors Mr Vikalp Mundra and Mr. Anurag Mundra in steering the Company to its future vision. M and B Switchgears Ltd. is also coming up with another project of 20 MWp under REC mechanism, at the locations in the vicinity of the existing site by 2013. The Company has devised an innovative offering called as 'UJAASTM ', which provides complete plug & play solution to the investor for putting up a solar power plant.