Zamil New Delhi Infrastructure Private Limited (ZNDIPL), the Indian subsidiary of Zamil Industrial Investment Company (Zamil Industrial) and a leading EPC and Turnkey player in the Telecom passive infrastructure arena, has been awarded one of the largest PV Solar EPC contracts on record, worth SAR 256.8 million (USD 68.5 million),to establish a 20 MW Solar plant for PLG Photovoltaic Limited.
The project is located in the vibrant state of Gujarat which has ambitious plans to invest more than USD 10 billion in renewable energy.
The contract was signed on Monday, 26thSeptember 2011 and is expected to have a positive impact on the consolidated financials at the end of each stage during Q1 and Q2 of 2012.
Zamil Industrial owns a 51 percent stake in Zamil New Delhi Infrastructure Private Limited.
This groundbreaking facility has been designed using some of the industry’s latest and most effective technologies. Kyocera, Japan and PowerOne, Italy will function as key providers of major supplies. Apart from offshore supplies, as a turnkeysupplier, ZNDIPL will perform leading roles as project liaison and in project management, onshore supply, design and drawing, civil and structural engineering, and erection and commission of the project under the guidelines of GETCO.
The first phase of the new PLG Photovoltaic Limited plant will be one of the largest Solar PV plants to be commissioned in India. ZNDIPL and its workforce of more than 500 employees, in cooperation with PLG Power, a seasoned technology player, looks forward to commissioning the plant by end of Q1 2012. This project represents ZNDIPL’s first foray into the renewable energy facility fabrication and erection sector, and a timely strategic move that is expected to yield huge rewards for the company and its stakeholders in the years to come.
“Zamil New Delhi is building up expertise and capabilities necessary to become leaders in the renewable energy industry. With the Saudi governments plans and initiative to deploy solar and renewable energy projects, Zamil will already have acquired the know-how to transfer the technology. Zamil Industrial will be one of the few leading companiesin the world with an abilityto localize solar and renewable energy,” commented Abdulla M. Al Zamil, CEO of Zamil Industrial and Chairman of Zamil New Delhi Infrastructure Private Ltd.
“Our in-house capabilities will allow us to complete this 20 MW deployment as a Fast Track PV power plant setup in India, and give us the capacity to replicate this model in India and in other countries. We are supported by a strong network of vendors, supplying the top international brands needed to complete the job. When choosing our vendors, our decisions were based upon the output performance we will need over the coming 25 years, rather than current output and price. With this project, we enter the renewable energy sector and plan to expand and succeed there,” said Vivek Gupta, CEO of Zamil New Delhi Infrastructure Private Ltd.
Mr. Punit K Goyal, CEO of PLG power added, “We are very impressed with the strength of the Zamil company and their robust experience in the infra domain, which was a deal clincher. Their team certainly has the capability to successfully complete the mammoth task of setting up this facility. With strong financial and technical patronage from Zamil Industrial, ZNDIPL becomes the strongest and most dependable partner for this technical partnership”.