Vatika ties up with Amplus Energy for solar rooftops systems in 6 Gurgaon buildings
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.
Delhi-NCR based real estate developer Vatika Group has tied up with solar energy company Amplus Energy Solutions to set up solar rooftop systems across 6 buildings in Gurgaon. The system, with a total capacity is 750 kilo Watt, would provide on-site renewable power in Vatika City Point in Sector 25, Vatika Town Square in Sector 82A, Vatika Triangle on MG Road, Vatika Atrium in Sector 53 on Golf Course Road, Vatika City in Sector-49 on Sohna Road and a 100kW system in Vatika Business Park, which is already operational.
Vineet Taing, President, Vatika Group said, “Installation of solar panels will help us to cut back the dependency on fossil fuels to a great extent. It is a proud moment for Vatika Group, as it is one of the first few real estate developers to opt for solar power.” These projects would help Vatika reduce emissions by 25,800 MT of CO2 over the life of the plant.
“These projects would add to the real-estate solar rooftop section of the diverse portfolio of Amplus Energy and provide green power to Vatika’s buildings,” said Sanjeev Aggarwal, managing director and chief executive officer, Amplus Energy. Amplus Energy, backed by U.S.-based private equity fund I-Squared Capital commissioned India’s largest single-location rooftop solar installation for captive use of 4,000 kW for Yamaha Motors in Noida in April this year.