Suryachakra Power to set up power projects with Flagsol

Suryachakra Power Corp Ltd said its unit Suryachakra Power Venture Pvt Ltd (SPVL) has signed an agreement with Germany-based Flagsol GmbH to set up power projects in India under the Jawaharlal Nehru National Solar Mission. No financial details were provided.

The company will submit bids to NTPC Vidyut Vyapar Nigam Ltd, the nodal agency for this purpose, by the following special purpose companies (50:50 equity partnership by SPVL and Flagsol) for setting up projects for purchase of power for 25 years.

The special purpose companies are Suryachakra MSM Solar India Pvt Ltd for 50 MW in Gujarat and Aasrit MSM Solar Energy Pvt Ltd for 5 MW in Chhattisgarh.

On Tuesday, Suryachakra Power shares gained 1.6% to Rs17 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% up at 19,346 points.

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ABB to buy Metsys Engineering for Rs8.5 crore

Engineering company, ABB Ltd, said it will acquire Bengaluru-based Metsys Engineering and Consultancy for about Rs8.5 crore.

Metsys provides engineering services to original equipment manufacturers (OEMs) and end customers mostly in metal industry.

The acquisition will help ABB to further strengthen its position in the metals business, said the company in a regulatory filing. 

On Tuesday, ABB shares ended 0.8% up at Rs789 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% up at 19,346 points.

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Suzlon Energy’s unit wins 50 MW order

Wind turbine manufacturer, Suzlon Energy Ltd said its unit Suzlon Energy (Tianjin) has received a 50MW order from one of China's five largest power producers. No financial details were provided.

The contract comprises 24 units of the Suzlon S88 turbines, each with a rated power of 2.1 MW, said the company in a regulatory filing.

The turbines will be delivered between October and December 2010. This order will increase Suzlon's installation base to 1,119.8 MW in China.

On Tuesday, Suzlon Energy shares rose 1.4% to Rs51 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% up at 19,346 points.

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