ZEBASOLAR INC Receives Approval For 36MW Thin Film Based Manufacturing Plant in India

Aug. 19, 2009 - PRLog -- ZEBASOLAR intends to build the first phase of the plant in 2010 with 18MW worth of capacity and launch Phase II for an additional 18MW in 2012. ZEBASOLAR will benefit from large subsidies granted by the State and Central government programs for constructing the project in a developing State which will be of up to 65% of the CAPEX.The project will be integrated with the 100MW Solar Farm agreement that ZEBASOLAR Energy has announced this month with CREDA.

ZEBASOLAR's Thin Film plant will also benefit from a captive supply agreement it will have with ZEBASOLAR's allocations of Solar Farms in the State of Gujarat, 10MW of which have already been allocated this month. ZEBASOLAR has also received an approval for its 100MW of applications in Chattisgarh for Solar IPP farms, which will be buildout over the next five years.  ZEBASOLAR has 300 MW of Solar Farm approvals pending in other Indian states which are to be allocated within the next 12 months, which will also become a supply source for the thin film plant in the future.

ZEBASOLAR has chosen Solar Thin Films, Inc., a United States and Hungary manufacturer of thin film equipment, as its vendor, Shahal Khan President of ZEBASOLAR INC stated, " We are pleased to have received this approval from the State of Chattisgarh for the construction of our plant, even though that market currently is very competitive in the module manufacturing sector, we believe with our captive allocation of Solar Farms in India and with the combination of the large subsidies given to us by the State and Central government, our cost per watt will be lower than $1, thus giving us a pricing advantage up and above any price available in the retail market. This integrated model will increase our IRR's by an additional 3%, since we have a revenue potential of over $150 million dollars in our captive Solar Farms in India, that uptick is significant".

According to Robert Rubin  the CEO of Solar Thin Films Inc. (OTCBB SLTN), "Having been selected by ZEBASOLAR Inc. as the prime vendor to build a 36MW thin film manufacturing plant in  Raipur represents a a major milestone for our company. It is our first contract in India and affords us the ability to work together with a first class organization such as ZEBASOLAR . This agreement should lead to much increased visibility for the company in several other world markets"

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About ZEBASOLAR INC

ZEBASOLAR INC is established in Bedminster New Jersey (USA), and is a fast-growing and ambitious company with international activities the Solar IPP farm development and operation sector, with assets in Italy , India and ongoing applications in the USA . As a project developer and investor, ZEBASOLAR ensures the implementation of solar energy power plants, of which it controls the ownership.

ZEBASOLAR is in the process of developing, building and financing PV projects with a total capacity of more than 25 MW in 2009 of which is as full approvals, out of 500MW in applications in India .

More about ZEBSOLAR is available on http://www.zebasolar.com/