NEPC India plans foray into solar photo voltaic modules
Source: MyIris.com /Nov. 28, 2007
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NEPC India announced that the board of directors of the company, at its meeting held on Nov. 27, 2007, informed that its plan to foray into solar photo voltaic modules and power plant is proceeding on the right track. The company also proposed to establish a-state-of-the-art production facility to manufacture thin film solar photo voltaic modules, which is considered to be an advanced technology to generate cost effective power, and cater to the high demand for solar PV modules all over the world.
The company also announced that NEPC solar power system received favorable market acceptance and has been able to consolidate and garnet a 30% market share in Northern India. The company has plans and proposals to foray into the southern region. Strategic marketing arrangements are also being organized to reach customers in the southern region.
The company has developed a wider range of models with higher capacities using revolutionary technologies. The product range has market potential to cater to high capacity requirements of `Solar Dual Power System` with a market potential to achieve 40-50% market share by mid 2008.
The company is in a growth trajectory and has proposed to augment funds by way of GDR, FCCB issue for an amount up to USD 150 million. The board has approved to convene an extraordinary general meeting (EGM) of the members of the company on Dec. 24, 2007, in connection with the proposed GDR, FCCB issue and to obtain approval of the members for the proposed increase in the authorized share capital of the company from the existing Rs 1,500 million. Shares of the company gained Rs 0.35, or 1.47%, to settle at Rs 24.2. The total volume of shares traded was 146,008 at the BSE. (Tuesday)