XL Telecom receives Rs 66cr EU order

XL Telecom and Energy, a Hyderabad-based mobile handset assembly and solar photo voltaic systems company, has received fresh orders valued over Rs 65.80 crore from a large power utility company in Europe for the supply of 4Mw solar panels.

XL has been focusing on the non-conventional energy sector since 1994 and has recently refocused on the export market of solar panels of higher capacity for the niche grid-connected segment. It has been investing heavily over the last 18 months in its efforts to get orders from Europe and the emerging US market for its products.

According to a press release on Friday, the total pending order book for the export of solar panels with the fresh order stands at Rs 263.50 crore, which is equal to 16Mw solar panels. The company has executed 1Mw solar panel orders valued over Rs 16 crore in the quarter ending September 30, 2007.

"The company is bullish on entering as a vendor with this large power utility company and is confident that the customer engagement will be extremely fruitful with multiple repeat orders over the period. XL will execute these orders within the financial year ending June 30, 2008," the release added.

XL Telecom has recently concluded its FCCB issue and has raised about $4 million for part funding its establishing of 120Mw solar cell manufacturing plant along with the expansion of module-making capacity by another 40Mw at its  fully-automated plant in the SEZ with a total capex of $75 million.