Titan Energy partners with Spanish Group
Hyderabad: Titan Energy Systems, a city- based solar photovoltaic modules manufacturer, on Thursday said it has entered into a partnership with Ortiz Energia, a subsidiary of Grupo Ortiz, a euro 600 million Spanish Group.
The partnership is primarily for offering EPC (engineering, procurement and construction) services and developing solar power plants in the country.
Rao Chodagam, founder and Managing Director of Titan Energy, said the two firms will jointly develop over 300 mw of solar power plants in India, in addition to offering world class EPC and O&M services to independent power developers.
The arrangement would boost sale of Titan's modules which would be used in the projects that are to be jointly executed, he said.
Ortiz Energia's development partner PIH Energy will also be part of the arrangement, he said.
Jaun Camilo Echeverri, spokesperson for Ortiz Energia and PIH Energy, said "the Indian market offers a large growth potential in the energy sector, along with advantages of a fast-growing economy and political stability."
Under the pact, Ortiz Energia and PIH Energy plan to bring their global expertise in development, EPC and operations of large power plants in Europe to India.
Ortiz Energia-PIH Energy will also provide global sourcing and financing assistance, he said.
The Ortiz Energia-Titan team will be offering their EPC and O&M expertise to solar power developers in the country.