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Vikram Solar enters into a Joint Venture with the spanish Proener Renovables

Indian conglomerate Vikram Solar, one of the leading manufacturers of crystalline PV modules in India, has floated a Joint Venture with the spanish corporation, Proener, which will help create a new business opportunity for both , while retaining their existing products and partnerships. The new Joint Venture Company has been named Vikram-Proener Projects.

Proener is a company dedicated to the installation of electricity power stations based on clean energy sources. The main aim of the company is to provide a high quality service from the initial design phase to project implementation. The Group has extensive experience in the construction of photovoltaic installations and has positioned itself as a leading company in Engineering processes, Design, Construction and Maintenance of large Photovoltaic Solar Power Plants and has already completed execution of more than 300 MW installations.

While Vikram Solar will bring to the table its product development skills and manufacturing facilities, Proener will aim to provide a high quality service for System Integration and Turnkey power solutions, both for grid tied and off grid application.

The construction and installation of a 2 Megawatt Solar Power Plant at Raipur, Chattisgarh with an approximate cost involvement of Rs. 25 Crore i.e. approximately US$ 5.5 Million, will be the first assignment of the Joint Venture which is slated to start its operation in July 2011.

“Vikram Solar is one of the few Indian Conglomerates in the renewable sector who have made a name for themselves in the International arena. Our tie up with Proener will provide us with more muscle in application of engineering and technology in the renewable energy sector” said Mr. H. K. Chaudhary, Chairman of Vikram Solar.

Mr. Fernando Arroyo Villuendas – Principal Shareholder & General Manager, Proener, feels that the joint venture with Vikram Solar will definitely bring forth both innovations and efficiency in renewable EPC contracting. “We are very excited to enter into this agreement with Vikram Solar.” says Mr. Arroyo. He further adds “A growing strategic relationship with Vikram Solar is of great importance to our business initiatives. It will clearly strengthen our competitive postion and add to our future successes in the Renewable Energy sector”.

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