Numeric Power to setup a Rs 25 crore MW solar project in Tamil Nadu
Numeric Power Systems, a provider of uninterrupted power supply (UPS) systems, has decided to set up a 1 MW solar energy farm at Palladam near Coimbatore district of Tamil Nadu.
The company would setup its first solar independent power project (IPP), through its newly established subsidiary, Numeric Solar Energy Pvt. Ltd.
According to company officials, the company would buy solar cells from suppliers in Japan and Germany and configure panel modules and assemble them. The cost of the project is estimated at Rs 25 crore, which will be financed through internal accruals.
Apart from latest development, the company is also planning to invest in LED lighting systems projects and make foray into the precision air-conditioning space with a strategic partner.
The company employs 2,200 employees in India and abroad with four subsidiary companies located in Sri Lanka, Singapore, Mauritius and Johannesburg.
