September 15, 2009

New Delhi, India: Maharishi Solar Technology partners with Abengoa Solar

Maharishi Solar Technology today announced its strategic tie-up with the Industrial (IST) Division of Abengoa Solar Inc., (ASI) based in Colorado, USA.

As part of this association, Abengoa Solar will support Maharishi Solar Technology through technology transfers, training of their staff for design installation and operation of various industrial ventures. This will be accomplished through providing engineering support and training in the sizing and design of solar thermal systems as well as in local and remote monitoring and diagnostics of solar systems for different applications. This collaboration aims to provide the best energy solutions at the most cost effective prices for the Indian manufacturers.

Speaking on the occasion, Mr. Pradeep Khanna, MD, CEO of Maharishi Renewable Energy (MREL) said, "We are proud to partner with World's solar technology leader, Abengoa Solar to bring their expertise to India. Indian Industry uses a lot of steam. Steam is a work horse of Indian Industry. With efficient solar power solutions we will help Indian Industry in cutting down their thermal energy costs as well providing a hedge against future fluctuations in fuel prices. Partnering with Abengoa Solar has empowered us with the right technology that follows the vision of Maharishi Mahesh Yogi to improve our performance and in turn quality standards of society at large by reducing carbon foot print and improving the quality of life of every one. MREL is striving to offer energy solutions to industries in India while continuing the development of new energy efficient technologies to improve market competitiveness."

Mr. Emiliano Garcia, General Manager, Abengoa Solar said, "India is a Global hub and has always been a key focus for all International companies. We are happy to partner with Maharishi Solar Technology and share our technology enabling them to grow the renewable energy market in India at a rapid pace. Our entry into India in the industrial solar thermal market through this venture is strategic and will help us further strengthen our presence in India. We support the vision of Maharishi Solar Technology and will extend all our support to this venture with our latest technologies."

This association is unique in India in aiming to improve energy effectiveness across Indian industrial units. Through this association, Abengoa Solar IST will transfer its World-class technology for the production of solar energy for industrial applications of steam generation, solar air conditioning, hot water needs and other thermal applications. Abengoa Solar IST will also supply manufacturing and assembly drawings, component specification and quality control procedures for manufacturing and procuring items in India. With this partnership, Maharishi Solar Technology will be able to meet India's escalating demand for thermal energy in Industrial applications and provide all the necessary support for the growth of Indian industrial units.

Further details about: Maharishi Solar and Abengoa Solar