Norasco signs MOU for Solar Energy co-operation, to bring in Euro 50 million investment

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During the state visit of H'ble President of India , H.E. Mrs Pratibha Devisingh Patil to Cyprus an important MOU on Solar Power has been signed. NORASCO Limited  Cyprus;   UPTURN Trading Limited, Cyprus (owners of the DALCO brand) and  CASE NEUBERG SOLUTIONS, (A CASE Group company), India  signed a Memorandum of Understanding (MOU) to co-operate in the field of Solar energy in India. Cyprus is leading European country in the field of research and implementation in Solar power.According to the MOU:DALCO will supply Solar PV systems, kits and technology for solar energy projects in India• CASE will be Indian technology and engineering partner for setting up turnkey solar energy • plants in IndiaNORASCO will provide project finance and investments of EURO 50 million in Solar energy • sector in India between 2010 and 2015 Photovolataic Technology Group of University of Cyprus (PVT Group) also signed an (MOU) with Norasco whereby PVT  Group  will act as a technology consulting partner for developing solar energy projects and solar energy education in India. PVT Group will provide the necessary technology support to the group for implementing solar power projects from 1 MW to 50 MW capacity. Dr. George E  Georghiou, Head of  Photovolataic Technology Group who recently visited India and had discussions with many scientists and engineers said "We are looking forward to developing cutting edge technology and solutions with Indian partners to harvest the power of sun." Mr. Sanjay Goyal, Director of Norasco  stated that " Like Cyprus, solar energy has great future in India. The implications of our technology and investments for society and economy are enormous. With Solar power, India can breakthrough in economic and social development and we are committed to help achieve the ambitious targets set by the Indian leadership."Mr Samer Arnous , Director Upturn, Cyprus said that DALCO was eager to enter Indian solar energy sector and put to use its decades of technology relations with Europe, China and United States to use in India. "Indian government has shown that it is very keen to welcome investments in this sector and is doing everything to attract foreign technology and investments. This investment climate is ideal for us and we are certain that solar power will be a success in India." PRESS RELEASE October 30, 2009Norasco signs MOU for Solar Energy co-operation, to bring in Euro 50 million investmentMr Roger Kumar , Managing Director , CASE Group India said they are proud to be associated with Norasco and DALCO. Our relations with Norasco go back 25 years. With a client base of over 2000 industries in India, we feel that we can make a very significant move in renewable energies and not only help our customers improve their reliability and efficiency but make India energy self sufficient.
About Norasco:Norasco is an advisory and investment group with special focus on renewable energies and education. Norasco was incorporated in Cyprus in 1993 and the group has been engaged in numerous investment projects in East Europe and India.Website :   www.norasco.comContact Mr Sanjay Goyal at: sanjay@norasco.com About DALCO:Upturn Trading Ltd supplies solar PV panels, invertors, batteries, and a wide range of appliances besides consumer electronics, furniture and building materials. Website :    www.dalcoworld.comContact Mr Samer Arnous at : samer@dalcoworld.com About CASE:CASE Engineering group offers complete engineering solutions for Coal Gasifiers, DRI, Cooling Solutions, Air Pollution Solutions and Water Treatment Solutions. 'WORKING FOR A SAFE AND CLEANER TOMORROW', the  Research & Development department of the group keeps adding up-to-the-minute features. Incorporated in 1993 with its head office in New Delhi, CASE group has manufacturing facilities located at strategic positions in India - Bangalore, Bahadurgarh and Kolkata with regional offices at Raipur and Ahmedabad. CASE is an ISO 9001:2000 certified organization, having a corporate affiliation with the prestigious CTI, USA. CASE group's core competence lies in designing , engineering, erection, testing and commissioning projects of any size.Website: www.casepl.comContact Mr Roger Kumar : roger@casepl.com About  PhotoVolataic Technology Group, University of CyprusThe Photovoltaic Technology group is one of the constituent groups of the Department of Electrical and Computer Engineering (ECE) of the University of Cyprus. The group is involved with activities in the wider field of renewable energy, specialising in the area of Photovoltaics.The main scope of the group is to create a strong scientific research team in Cyprus capable of accomplishing worldwide research tasks in the field of PV in collaboration with established Institutes abroad.website: www.pvtechnology.ucy.ac.cyContact: Dr. George E. Georghiou at: geg@ucy.ac.cy  There is a growing recognition in India that we have to move away from polluting fossil fuels and the technology, resources from our consortium will help thousands of Indian companies do just that. Further it is high time that we make our villages self sufficient in basic power requirements. The idea is to make village cells fully basic power self sufficient and hence contribute in vibrating self sufficient green modern India."