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AEG Targets 500 Million Euros of Clean-Energy Sales, FAZ Reports

Nov. 8 (Bloomberg) -- AEG Power Solutions BV is targeting 500 million euros ($687 million) in renewable-energy sales next year as it grows in India, Frankfurter Allgemeine Zeitung reported, citing Chief Executive Officer Horst Kayser.

AEG Power, a unit of Netherlands-based 3W Power SA, expects its new factory in Bangalore, which makes inverters used in solar plants, to benefit from India’s plan to install 20,000 megawatts of panels by 2020, Kayser told the newspaper.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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