SMA SOLAR TECHNOLOGY AG CONCLUDES SALE OF SMA RAILWAY TECHNOLOGY GMBHSMA Solar Technology AG (SMA/FWB: S92) concluded sale of its subsidiary SMA Railway Technology GmbH today. The buyer is the leading Chinese railway technology group Beijing Dinghan Technology Co., Ltd. The buyer and the seller have agreed not to disclose the purchase price. The transaction will contribute positively to the SMA Group’s earnings in the first quarter of 2017. Against this backdrop, the SMA Managing Board forecasts sales of €165 million to €175 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of €15 million to €18 million for the first quarter of this year. The SMA Managing Board is confirming its sales and earnings guidance for fiscal year 2017 as published on January 26, 2017, which forecasts sales of between €830 million and €900 million and EBITDA of between €70 million and €90 million.
Moving towards renewable energy, Mohali Municipal Corporation (MMC) has installed solar panels on its roof, thus becoming the first government building to have such panels in the district.MMC has installed 70 kW solar panel on the roof of MC Bhawan in Sector 68. MC is using solar energy to run ACs, computers, tube-lights, fans and even the elevator in the building.MMC commissioner Uma Shankar Gupta said, “The project has been completed and we are using solar power in the building now. The environment-friendly project was built at a cost of Rs 54 lakh.”
Till now, MMC used to get a bill worth Rs 2 lakh in summers and Rs 80,000 in winters every month. With this project, MMC is going to save lakhs of rupees every month from now on.Gupta said, “We are going to save electricity as well as the public money. The surplus electricity will be sent to Punjab State Power Corporation Limited (PSPCL) grid thus generating revenue for us.”The private company hired to install solar power system is responsible for the maintenance of the project for the next 10 years.
MMC has also decided to install three more solar power panels on the roofs of gaushala, fire brigade office in Phase I and public library in Phase X.Gupta said Mohali will soon become a solar powered city as per the proposal prepared by Punjab Energy Development Agency (PEDA) which was approved in the house meeting too. Mohali is going to be the third city to be developed as solar city after Amritsar and Ludhiana.Mohali also plans to run all LED streetlights, display boards and fountains by using solar power.Besides, MMC has also decided that those buildings whose area is more than 500 sq m will have solar power panels.