XL Telecom and Energy has secured two export orders worth Rs 52.5 crore for the supply of solar panels to the European market. One of the customers is an EPC company based in Italy and the other is a company in the Czech Republic. The Italian order is worth Rs 42.1 crore for 230 Wp size panels, while the Czech order is worth Rs 10.4 crore for the supply of 200 Wp panels.
The company is expecting futher investments in solar power projects in Europe, due to the gradual easing of the credit market and is bullish on the market opportunity.
XL has been focusing on the non conventional energy sector since 1994 and has subsequently stopped focusing on telecom.