Essel Group, India's leading business conglomerate, has entered into technology transfer agreements with three leading German firms at the world's largest trade fair, Hannover Messe 2015, in Germany.
While a memorandum of understanding (MoU) for transfer of critical technology in wind and solar energy was signed with FeCon GmbH, a subsidiary company of Wind and Sun Technology GmbH, a similar pact was also inked with Passavant Energy and Environment (PE&E) GmbH for mega scale waste-water treatment projects in India. A letter of intent (LoI) has also being signed with Schneider to develop smart city projects in India.
Dr Subhash Chandra, chairman, Essel Group, also moderated a panel discussion on smart cities during the event while Amitabh Kant, secretary Department of Industrial Policy and Promotion (DIPP), unveiled the Essel smart city framework.
According to the Essel management, FeCon GmbH will assist Essel in developing and manufacturing wind turbines in India along with power station and grid equipment for solar and wind energy to suit Indian conditions.
As for the MoU with PE&E known worldwide for its sludge digestion technology, it will provide Essel with access to groundbreaking technologies and processes in municipal waste water, sludge, water, and industrial waste water treatment.
Commenting on the recent development, Ashok Agarwal, CEO, Essel Infraprojects, said, "We are glad to announce our alliance with Schneider, FeConGmBH and Passavant Energy and Environment GmbH. We believe this will put us on the fast track in delivering on our commitment to produce 12,500 mw of solar energy and 4,000 mw of wind energy in India in the coming year as also in establishing Essel as a major player in the 7.5 billion euros market for waste water management in India.
"Our MoU with German partners will also provide a fillip to the 'Make in India' movement envisaged by our prime minister and will put Essel at the forefront in realising his vision for smart cities in India," he said.
The group also plans to export the surplus renewable energy as the tie-up shapes up going ahead.
The Essel group is in Hannover to showcase its Indian smart city module for building integrated, inclusive, innovative and sustainable smart cities and is part of Prime Minister Narendra Modi's delegation to Germany. The company has already received an overwhelming response to its stall at the Hannover Messe 2015 trade fair.
The Essel group has taken big strides in realising the Modi's dream of setting up 100 smart cities. It plans to invest over $2 billion over the next three years in transforming major cities across India. It is the only integrated smart city developer in India with proven expertise in creating single window utility corridor.
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