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Hyderabad, Oct. 16

XL Telecom & Energy Ltd has set up a 1.6-MW solar power plant in Majorca, Spain, with an investment of €9.5 million. The plant is the first in the series of plants (solar farms) the Hyderabad-based company is planning to set up in Europe to generate over 300 MW solar power over the next three years, according to a release. The company has signed a power purchase agreement for 25 years with the Spanish utility company. “The project is expected to generate about €19 million revenue,” the company said. “XL is exploring the opportunities to establish solar farms in Italy, southern France and other European countries through its 100 per cent subsidiary, Saprashva,” said Mr Dinesh Kumar, Managing Director, XL Telecom & Energy.

— Our Bureau

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