India, Mumbai, 14th July 2015 - Rolta Power Pvt Ltd and China-based Zhenfa New Energy Science and Technology Co Ltd has signed an MoU to conduct and capitalise on joint EPC opportunities and project developments in the flourishing solar industry of Indian sub-continent.

An unwavering policy to mitigate climate changes, improve the living standards and environment of India, Prime Minister Narendra Modi has committed to generating 100 GW of clean solar energy by 2022 and reduce carbon emission from traditional fossil fuels, a move that has been accelerated to make India an energy efficient country.

This strong and clear direction was further re-enforced when Narendra Modi visited China earlier this year to strengthen strategic partnerships between these two largest Asian countries. The agreement between Rolta Power and Zhenfa New Energy Science and Technology Co Ltd seeks to follow suit with concrete actions.

"As per the MoU, the partnership enables us to share our revenue with Zhenfa, a win-win scenario for both the companies," said, Dr Aditya K Singh, Managing Director, Rolta Power Pvt Ltd. He further commented, "With our 2020 vision, we believe that through this partnership we can together install at least 2GW by the year 2020 and generate revenues of approximately USD 2.03 Bn or about Rs 13,100 crore."

Zhenfa's chairman, Mr Zhenfa Zha said, "We have been exploring the Indian market for some time and are happy to have found the right and able partner like Rolta Power for our India interests. We will bring our extensive EPC skills and advanced technologies to construct utility scale solar stations, supplying electricity to millions of consumers in India and play an essential and responsible role to help alleviate the severe shortage of power supply and improve the ecology". These projects will also serve Indian society, by creating over 2000 jobs.