Swelect Energy Systems bags 10 MW Solar Power project in Karnataka.

Swelect Energy Systems has won the bid for a 10 MW Solar Power project in Karnataka. The company had participated in KREDL Solar Power Project announced by Karnataka Government. Under the DCR Category eligible for Karnataka based Solar Module manufacturers, the company submitted the bid and won the project.
The company has received approval for acquiring 100% equity share capital of SWELECT Power Systems (SPSPL) at face value for utilizing the said company (SPSPL) as SPV for the above 10 MW Project from execution to operation and maintenance and passed necessary resolutions accordingly. The board of directors at their meeting held on April 11, 2016 has approved for the same.
Swelect Energy Systems formerly ‘Numeric Power Systems’ is a leading Power Electronics and Renewable Energy company.

Livemint