CASE Group entered into an agreement with Cyprus based firms, NORASCO and Upturn Trading Ltd to procure kits and technology for solar energy projects in India on Friday 30 October 2009.
The Memorandum of Understanding [MoU] was signed in the presence of her excellency, President of India Ms. Pratibha Patil, who was on her three day visit to Cyprus. Also during the signing were present, Mr. George Vasiliou, Ex-President, Republic of Cyprus, Mr. Loucas Louca, Hon’ble Minister of Finance, Government of Cyprus, Mr. Manthos Mavrommatis, Hon’ble President of Cyprus Chamber of Commerce and Industry.
Addressing business leaders from Cyprus and India at the Cyprus Chamber of Commerce and Industry, President Patil said: “I invite Cyprus companies to participate in business projects individually or in-joint venture with Indian firms.
A remarkable feature of India’s economy is its emergence as a global player in knowledge-based industries.”
According to the MoU:
· DALCO will supply Solar PV systems, kits and technology for solar energy projects in India
· CASE will be Indian technology and engineering partner for setting up turnkey solar energy sector in India.
· NORASCO will provide project finance and investments of EURO 50 million in solar energy sector in India between 2010 and 2015.
Photovoltaic Technology Group of University of Cyprus(PVT Group) also signed an (MoU) with Norasco whereby PVT Group will act as technology consulting partner for developing solar energy projects and solar energy education in India. PVT Group will provide the necessary technology support to the group for implementing solar power projects from 1 MW to 50 MW capacity.
Dr. George E Georghiou, Head of Photovoltaic Technology Group who recently visited India and had discussions with many scientists and engineers said “We are looking forward to developing cutting edge technology and solutions with Indian partners to harvest the power of sun.”
Mr. Sanjay Goyal, Director of Norasco stated that “Like Cyprus, solar energy has great future in India. The implications of our technology and investments for society and economy are enormous. With Solar power, India can breakthrough in economic and social development and we are committed to help achieve the ambitious targets set by the Indian leadership.”
Mr Samer Arnous, Director Upturn, Cyprus said that DALCO was eager to enter Indian solar energy sector and put to use its decades of technology relations with Europe, China and United States to use in India. “Indian government has shown that it is very keen to welcome investments in this sector and is doing everything to attract foreign technology and investments. The investment climate is ideal for us and we are certain that solar power will be a success in India.”
Mr. Roger Kumar, Managing Director, CASE Group India said “we are proud to be associated with Norasco and DALCO. Our relations with Norasco go back 25 years. With client base of over 2000 industries in India, we feel that we can make a very significant move in renewable energies and not only help our customers improve their reliability and efficiency but make India energy self sufficient. There is a growing recognition in India that we have to move away from polluting fossil fuels and the technology, resources from our consortium will help thousands of companies do just that. Further it is high time that we make our villages self sufficient in basic requirements. The idea is to make village cells fully basic power self sufficient and hence contribute in vibrating self sufficient green modern India.”CASE GROUP - LOCATION MAP
Post a Comment