UAE based Mulk Holding has signed an agreement with the Bangalore based
Aditya Solar Power Industries to develop a 200-MW solar thermal project in the
UAE.
Mulk Renewable Energy, a subsidiary of Mulk Holding, is likely to supply and
install solar thermal power plants for Aditya Solar in a deal worth 2 billion
dirhams (approx Rs 2,433.8 crore). As per the agreement, Mulk Renewable Energy
is likely to form a JV with Aditya Solar to develop the project.
The project to be implemented two phases will have a 40-MW plant under the
Phase I by 2012 and a 160 MW plant under the Phase II by 2013. Mulk Renewable
will have a 25 per cent equity stake in Phase I.