August 17, 2009

Bedminster NJ, USA: Zebasolar Wins Solar Concession in the State of Gujarat, India

Zebasolar Inc is one of 34 applicants that have been awarded a part of India’s first major allocation of Solar photovoltaic and solar thermal farms in the State of Gujarat.

For Zebrasolar, the Gujarat PV project involves an investment of 35 million euro on the part of Zebasolar PVT Limited India, a 85% subsidiary of Zebasolar Inc. USA. This plant will have an annual power production of 16.37 million kWh, and a franchised operation term of 25 years.

This win, the first for Zebasolar in India, is on the heels of more than 500MW of Solar plant applications the company has made in various Indian states in early 2009.

In late January 2009, The Gujarat State Energy Agency (GEDA) planned an open tender to confirm the on-grid electricity price and technical solutions. An estimated total of 70 International majors and domestic energy players bid for with over 5,400 MW worth of tendered applications.

"We are very proud to have won our concession in The State of Gujarat, we commend the Honorable Chief Minister of the State, Mr. Narendra Modi as well as the Secretary of Energy Mr. Jagdeesan, for their vision and foresight in bringing Gujarat as the State which is not only leading the push in India to go green, but also making an impact on the world market by announcing a concession of this size. Zebasolar will bring its partners and technology to ensure that the State succeeds in its plans and initiatives and helping India become a renewable energy leader”, stated Shahal Khan, Founder and President of Zebasolar INC.

“The project is expected to start construction within 5 months and has to be completed within the 6 following months. Coming online estimated in mid-2010 and supplying the State with clean and efficient Solar Power", commented Majid Khan, Director of Zebasolar INDIA.

All PV systems will be PV tracker panels, installed on land. Zebrasolar is in the process of setting up the Gujarat joint venture company and confirming the EPC contract.

Zebasolar Inc is established in Bedminster New Jersey (USA), and is a fast-growing and ambitious company with international activities in the Solar IPP farm development and operation sector, with assets in Italy, India and ongoing applications in the USA. As a project developer and investor, Zebasolar ensures the implementation of solar energy power plants, of which it controls the ownership.

Zebasolar PVT Limited India is in the process of developing, building and financing PV projects with a total capacity of more than 25 MW in 2009, which are fully approved, out of 500MW in applications in India.

Further details about: Zebasolar Inc