Louroux announces Technical Tie up with Martifer Solar for its 25MW Solar PV plant in Gujarat

June 1, 2011 - PRLog -- Mumbai, Maharashtra, June 1, 2011

Louroux Bio Energies Ltd., a group company of Ajanta Pharma Ltd., is pleased to announce its technical tie up with Martifier Solar S.A. for setting up 25MWSolar PV power generation project in Gujarat. The Company has alreadysigned a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL), a Government of Gujarat undertaking for 25 years.

The agreement implies complete technical support from Martifer Solar on thedesign, engineering, procurement and erection of the plant. The project isbeing set-up near Rajkot in Gujarat, and is due to be delivered until the 31stof December 2011, in multiple phases. Martifer Solar has already selected aqualified and experienced team of professionals to work on this project.

According to Mr. Ravi Agrawal, Louroux's Managing Director: "Our tie up withMartifer Solar is a major step for the successful realization of this plant. Their international experience, with more than 130 MW installed worldwide,confirms that they are the best partner for our solar project. We are lookingforward to increasing our relationship with Martifer Solar in future projects.

""We are really satisfied with this agreement and our success in India. Thisproject is just the beginning of Martifer Solar's operations in one of the mostpromising solar markets and strengthens the excellent relationship establishedwith Louroux during this year, confirming the expectations forfuture cooperation between both companies", stated Mr. Henrique Rodrigues,Martifer Solar's CEO

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About Louroux

Louroux Bio Energies is a company dedicated to harness the potential of Solar and other renewable sources. The company is based in Mumbai and is also working on developing solar projects in other states in India. Louroux is promoted by the founders of Ajanta Pharma Ltd. The group companies also include Inspira Infrastructure which is developing Special Economic Zones and integrated townships in India.

About Martifer
Martifer is a multinational industrial group with more than 3,000 employees focused on metallic constructions and solar energy. In the solar sector Martifer is focused on EPC and distribution of PV modules and components, with presence in 13 countries. To date, Martifer Solar, the solar energy division of Martifer Group, has participated in the implementation of over 130 MW of photovoltaic solar energy worldwide.