PLG Power, a flagship energy and power division of the Rs 2000 crore PLG Group, successfully inaugurated its world class solar power project (100 per cent EOU) to manufacture 50 MW of solar photovoltaic modules recently at, Nasik, Maharashtra, under the technical and turnkey collaboration with Spire Corporation, Boston, USA.
The state of the art plant was inaugurated by K L Bablani, Chief Commissioner of Customs & Central Excise in the presence of foreign and local dignitaries and buyers from Europe.This is the first phase of the company to manufacture mono-crystalline and multi- crystalline solar modules of the highest efficiency. The total investment of PLG Power sector in solar power sector is to the tune of Rs 500 crore.
PLG Power has bought the entire state of the art turnkey machinery, equipment and technology from Spire Corporation, Boston, USA to manufacture 25 MW of highly efficient solar modules.
Spire Corporation is a Nasdaq listed global solar company providing turnkey solar factories and capital equipments for the solar photovoltaic industry having more than 90 per cent market share.
The company has already signed MoUs and five year long term agreements with its suppliers and buyers worldwide. It has secured substantial export orders to back up its expansion plans which is proposed to raise upto 100 MW by June 2009 at an expenditure of Rs 450 crore.
Pramod K Goel, CMD is hopeful to achieve an annual export turnover of Rs 3000 crore by 2010.