Shriram EPC has won a 6.4bn rupee ($140m) contract to build a 50MW concentrating solar thermal plant in Jaisalmer, Rajasthan.
Shriram EPC Limited has been awarded an order amounting to Rs.640 crore from Abhijeet Projects Limited for a 50 MW Concentrating Solar Thermal Power Plant in the Jaisalmer district of Rajasthan.
The scope of work includes the design, engineering, procurement, supply, erection, testing & commissioning for the entire concentrated solar energy project. The solar thermal project is scheduled for completion in 20 months. SEPC has signed MOU with ENER-T International Limited, Israel – a leading technology and engineering provider for thermal solar projects. The stock was trading at Rs.129.75, up by Rs.9.85 or 8.22%. The stock hit an intraday high of Rs.134.95 and low of Rs.127.
Shriram EPC Limited (SEPC), a leading service provider of integrated design, engineering, procurement, construction and project management services for power plants, renewable energy projects, process and metallurgical plants and municipal service sector projects throughout India and manufacturer of wind turbine generators, has announced that it has won its first order in the Solar Power Vertical.
Shriram EPC Limited (SEPC), a leading service provider of integrated design, engineering, procurement, construction and project management services for power plants, renewable energy projects, process and metallurgical plants and municipal service sector projects throughout India and manufacturer of wind turbine generators, has announced that it has won its first order in the Solar Power Vertical.
SEPC has been awarded an order amounting to Rs. 640 crore from Abhijeet Projects Limited for a 50MW Solar Thermal Power Plant in the Jaisalmer district of Rajasthan. The Project is Owned by Corporate Ispat Alloys Limited (CIAL) which has won this 50 MW Solar Thermal Project through competitive bidding under Jawaharlal Nehru Solar Mission, has entered into 25 year PPA with NVVN.. CIAL also entered into a Technology agreement with Ener-T International Ltd, Israel for providing the Solar Technology to this project. SEPC will execute the EPC work in partnership with ENER-T International Limited, Israel- a leading Technology & Engineering provider for Solar Thermal Projects.
The scope of work includes the design, engineering, procurement, supply, erection, testing & commissioning for the entire project. In addition, the project entails setting up of a raw water storage system which includes a facility for pre-treatment of water and storage capacity for 60 days consumption. The project is scheduled for completion in 20 months.
Commenting on the contract, Mr. T. Shivaraman, Managing Director & CEO of Shriram EPC Limited, said, "This contract win is significant for Shriram EPC as it marks our foray into the solar power vertical. We have further broadened our service offerings in the renewable energy space as we now offer competencies in Wind Power, Biomass Power as well as Solar Power. We are actively pursuing opportunities in these verticals as we foresee strong prospects for the renewable energy industry in the future.
This order from Abhijeet Projects also adds to our healthy order backlog position. We are well placed for the next few quarters and are poised to grow given the diversified nature of orders in our backlog. We are focused on implementing these orders in an efficient manner to deliver high quality execution and to register commensurate margins. We are confident that our enhanced service offerings, timely delivery and focus on heightened efficiency will contribute to Shriram EPC’s continued overall growth.
