MEDIA RELEASE PR36700
Breakthrough for S.D.E Company: A Memorandum of Understanding, for Building a 5MW Sea Wave
Power Plant, was Signed Between S.D.E Company and the Government of Gujarat, India
TEL AVIV, Oct. 22 /PRNewswire-AsiaNet/ --
Recently, S.D.E's subsidiary, Om Sai Mantra Powergen Pvt ltd, has
signed on an MOU with the Government of Gujarat, represented by Energy &
Petrochemicals Department. You can see a video about S.D.E's activity,
produced by Israeli Foreign Office, in the next link:
This Memorandum of Understanding was signed at Ahmedabd (Gujarat,
India) during Vibrant Gujarat Global Investors' Summit 2009. Mr. Sailal
Jedhiya, one of the directors in S.D.E's subsidiary, has signed the MOU on
behalf of the Company, and Mr. V.H. Buch, a director of the Energy &
Petrochemicals Department, has signed on behalf of the Government of Gujarat.
The president of S.D.E ltd and Om Sai Mantra Powergen Pvt Ltd, Mr. Shmuel
Ovadia, had prior commitments in the US, and could not arrive to the Summit.
However, he has sent his congratulations for this accomplishment and said
that "this is an important breakthrough for S.D.E Company"
According to the MOU, Om Sai Mantra Powergen Pvt ltd intends to
commence commercial production of a 5MW Power Plant, in total worth of
5,000,000 Million USD by December 2010.
In order to enable Om Sai Mantra Powergen Pvt ltd to implement
the above project, the Government of Gujarat said that it would facilitate Om
Sai Mantra Powergen Pvt ltd to obtain necessary permissions/registrations
from concered departments of the State and Central Government and would also
help to avail incentives under various schemes announced by the State/Central
Government, wherever applicable. In the next phase, S.D.E will build a 100MW
sea wave power plant, and the Government has authorized a budget of
700,000,000$ Million USD, for this purpose.
This is a very important accomplishment for S.D.E Company that
was maintaining contacts with the Indian National Electric Company, PCT
India, since the beginning of 2007. In that year, PCT India has issued a
letter that stated that PCT in-principle agrees to purchase power from the
aforesaid project on long term basis, subject to Power Purchase Agreement.
Till this day, the company has built 8 models that have been
successful and the last of them has produced 40kW/h. The models were
financed, Checked, and approved by the Israeli Government.
For further details Please contact:
Mrs. Inna Braverman, International Marketing Manager of S.D.E,
or Mr. Shmuel Ovadia, CEO.
Phone number: +972-(0)3-73971071
Fax Number: +972-(0)3-6319239
E-mail Address: abe@shani.net
SOURCE: SDE Ltd
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