Vikram Solar enters into a joint venture with Spain’s Proener Renovables

Vikram Solar, part of the Vikram Group of Industries, has entered into 51:49 joint venture with Spain's Proener Renovables to build solar power facilities in India.

Vikram- Proener Project will build a 2-megawatt project at Raipur in Chattisgarh at an approximate invested cost of Rs25 crore, which is expected to be operational by July 2011 to start with.

The company will primarily address the engineering, procurement and construction (EPC) projects under the JNNSM scheme, apart from state level projects with distinct focus on roof top and solarisation of telecom towers. It also aims to cater to the private sector projects.

Vikram- Proener said it aims to generate revenues of Rs1,000 crore in the coming three years and Rs250 crore in its first year of operation.

Vikram Solar, headquartered in Kolkata, specialises in the manufacturing of PV solar modules. It has an advanced solar PV module manufacturing facility in India in the Falta SEZ in West Bengal besides offices in Germany, United States, and Kenya.

The Vikram Group of Industries, incorporated in 1974, is a manufacturer and exporter of the complete range of tea processing machines, both in India and abroad.

The Group also has a presence in allied engineering, dyes and chemicals, steel and power, textiles and yarns, finance, infrastructure and solar power.