AEG Power Solutions is Awarded a Major Solar Contract in Madhya Pradesh (India)

  AEG Power Solutions is Awarded a Major Solar Contract in Madhya Pradesh   (India)    *Partnership with M and B Switchgears Ltd. for a 30 MW agreement   *The company crossed over 100 MW of orders within a year in India  Business Wire  BANGALORE -- February 25, 2013  AEG Power Solutions, a leading global manufacturer of power electronic systems and solutions for industrial power supplies and renewable energies, was awarded a 30 MW solar power plant project from the pioneers of Renewable Energy Certificate Mechanisms in India, M and B Switchgears Ltd.  One of the solar power plants equipped by AEG Power Solutions, Saisudhir site, Andhra Pradesh provin ...  One of the solar power plants equipped by AEG Power Solutions, Saisudhir site, Andhra Pradesh province, India.  Located in Madhya Pradesh, M and B Switchgears Ltd. will be provided with high reliability inverters for their solar power plant by AEGPS (India) within the first quarter of 2013.  “We are thrilled to have bagged this contract. We start the year with two major achievements: this 30MW contract and totaling orders over 100MW within the last one year. The growing energy demand in the country requires an uninterruptable power supply and a reliable infrastructure for industrial power users. AEG PS offers a consistent product portfolio covering these demands perfectly,”said Sridhar Murthy, Managing Director of AEG Power Solutions in India.  Mr. Vikalp Mundra, Director M and B Switchgears Ltd said “We are glad to have AEGPS as our partners on board for this project. M and B Switchgears was the first solar power producer in India to be issued 249 solar Renewable Energy Certificates. Partnering with AEGPS, known for their premium quality and highly efficient products, will further strengthen our commitment towards an alternative energy future.” “Developing ourselves in India meant facing specific challenges; technical challenges due to location and climates, as well as market challenges due to fierce competition. This contract is a success for our Indian team and a step forward in our development on the Indian solar market”, explains Bob Roos, VP Solar Strategic Business Unit of AEG Power Solutions.  With a strong service capability and a local state-of-the-art manufacturing facility for centralized solar inverters, AEGPS has met varied customer expectations despite the market challenges in the last twelve months.                                       ###  About AEG Power Solutions AEG Power Solutions (AEG PS) Group is a global provider of power electronics systems and solutions for all industrial power requirements offering one of the most comprehensive product and service portfolios in the area of power conversion and power control. Two complementary operating business segments, Renewable Energy Solutions (RES) and Energy Efficiency Solutions (EES) serve customers worldwide. The RES product and service portfolio consists of systems and solutions for solar power plants, such as solar inverters, monitoring and control systems as well as power controllers for a wide range of industrial applications such as polysilicon, energy storage, sapphire and glass. The EES product and service portfolio includes high-performance uninterruptable power supplies (UPSs), industrial chargers, DC systems and converters.  Thanks to its distinctive expertise bridging both AC and DC power technologies and spanning the worlds of both conventional and renewable energy, the company creates innovative solutions for smart grids.  AEG PS’ global footprint includes 17 subsidiaries and competence centers around the world with 1,600 employees.  AEG Power Solutions Group is the sole subsidiary of the holding company 3W Power S.A. (WKN A0Q5SX / ISIN GG00B39QCR01), based in Luxembourg. The Group is headquartered in Zwanenburg in the Netherlands. The shares of 3W Power are admitted to trading on Frankfurt Stock Exchange (ticker symbol: 3W9).  For more information, visit www.aegps.com.  About M and B Switchgears Ltd.  M and B Switchgears Ltd. has been one of the most trusted names, in the business of transformer manufacturing of India over last 3 decades. Under the stewardship of its Chairman, Mr. S. S. Mundra, the Company has grown from being small scale transformer manufacturers to a publicly listed entity. The Company’s diverse activity ranges from manufacturing of transformers (distribution of power) to exploiting of Renewable sources of energy (generation of power). The Chairman is now ably assisted by young directors Mr Vikalp Mundra and Mr. Anurag Mundra in steering the Company to its future vision. M and B Switchgears Ltd. is also coming up with another project of 20 MWp under REC mechanism, at the locations in the vicinity of the existing site by 2013. The Company has devised an innovative offering called as 'UJAASTM ', which provides complete plug & play solution to the investor for putting up a solar power plant.  This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of 3W Power. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power.  3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.  AEG is a registered trademark used under license from AB Electrolux  Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130225005704/en/  Multimedia Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50574800&lang=en  Contact:  Ute von Cranach Marketing Communications RES AEG Power Solutions Tel.: +49 2902 763 256 Mobile: +49 170 574 9094 Email: ute.voncranach@aegps.com or Claire Pairault Corporate Communications AEG Power Solutions Tel.: +331 555511076 Mobile: +33 6 19609164 Email: claire.pairault@aegps.com  
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