XL Telecom gets Rs 154-crore order

To supply solar panels to a major power utility firm in Europe.

Hyderabad-based XL Telecom & Energy Limited has received orders valued over Rs 153.9 crore for supply of solar panels to a major power utility company in Europe. With this, the company's order book position stands at Rs 675 crore.

XL is working towards execution of a major portion of these orders by June 30, 2008, and its European subsidiary Saptashva is in the process of establishing the solar farms for power generation in Europe, the company stated in a press release here on Monday.

Though focusing on non-conventional energy sector since 1994, XL had recently ventured into the export market of solar panels of higher capacity for niche grid connected segment. It has been investing heavily for the last 18 months to get orders from Europe and the emerging US market for its products.

The company is establishing a 120-Mw solar cell manufacturing plant along with expansion of module-making capacity by another 40-Mw fully automated plant at a cost of Rs 300 crore.

It had recently raised $40 million (Rs 160 crore) through an FCCB issue for part funding of the project.