Shree Ganesh Jewellery House (SGJHL) has bagged a solar power project in Orissa.
The 25 MW solar power project will be executed by Alex Green Energy in which the company holds a majority stake. Alex Green Energy is co-promoted by the Sureka Group. Alex Green won the right to develop a 5-MW project in a solar auction in Orissa. Under the rules of the tender, the least bidder will be offered all the 25 MW at the winning price. Alex will be commissioning the entire 25 MW shortly. The total investment including the debt component for commissioning the solar plant in willl be close to Rs 175 crore and will be completely funded by Alex.
SGJHL had acquired a controlling stake in the two companies – Alex Astral Power and Alex Spectrum Radiation, co-promoted by the Sureka Group.