Mumbai, August 27, 2013: M and B Switchgears Ltd's corporate name has changed to Ujaas Energy Limited. The need for the name change is to more accurately and categorically define the nature of its business.

"UjaasTM", which means in local language - "Light at the Dawn". The entire solar spectrum in India has started taking shape just like after a dark night the sunlight starts radiating light at dawn. Solar power will become one of the biggest contributors to India's huge appetite for power which is must for an ever growing shinning India.

The company is the first to generate and sell Solar REC in the county from its solar power plant of 2 MW commissioned in March 2012 at Rajgarh (MP). Speaking on the occasion Mr Vikalp Mundra, Joint Managing Director, Ujaas Energy Limited expressed confidence that, "the Company would continue on the growth trajectory with the same passion and zeal that it has displayed since its inception. As of today, there are around 136 MW of solar PV capacity installed in the country under REC mechanism expected to generate around 204825 solar RECs. With the encouragement and support provided by the SERC's there is expected to be tripling solar PV capacity under REC mechanism in the country in FY 2013-14 and will keep on increasing as per the increasing demand of the solar REC's in the country and may reach over 1000 MW by next 3-4 years."

With this vision to offer a simple, universally acceptable, easily maintainable system of green energy to humanity at large, the company introduced a unique concept of Solar Parks and branded it as Ujaas.

Ujaas Park is a plug and play model of service in solar projects at an affordable cost. It is a single window to own a solar power plant, right from selection of land to selection of technology; putting up a solar power plant; getting all the permissions; selling power to third party buyers; issuance of REC; trading of REC till the final realisation reach to the account of the investor; and over and above taking O&M responsibility for next 20 years.