Apar Group, a major international size manufacturer in the power distribution industry, has signed a letter of intent with NEAT Energy, Inc. USA to build a 5 MW solar photovoltaic (PV) power plant in the Bhuj, Gujarat through its group company, Apar Corporation Pvt. Ltd. which will be ramped up to 40 MW.

“We are pleased to be partnered with NEAT Energy, Inc. After extensive research we have identified them to be the team that provides the solar photovoltaic technology that is the most suited for Indian conditions. They have partnered with solar companies with decades of experience in utility-scale installations, and they are, by far, the most cost efficient. The ROI from this investment is very obvious to us. We expect this investment to pay off smartly,” said Narendra Desai, chairman, Apar Group.

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“It is a great opportunity for us to partner in this project with Apar Group, a leader in power distribution. We are also proud to have Wholearth Energy, Inc. as a partner, which has been instrumental in helping put together one of the most effective solar teams in India. The costs of solar PV power generation are now at such levels that it makes sense to invest in such business. NEAT Energy, Inc. will be at the forefront of making solar PV energy an integral part of India’s energy infrastructure,” said Pranav Ashar, CEO of NEAT Energy, Inc. Based out of New Jersey, USA, NEAT Energy, Inc. deploys solar PV power generation for utility-scale and building-scale deployments in India. The company provides a gamut of services for the enablement of renewable energy sources from feasibility study, design and system integration through to commissioning and maintenance.

Meanwhile, Apar Group pegged a turnover of Rs 2,500 crore for the financial year 2009-2010.

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