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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (9188)	10/30/1999 2:08:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Shakti group expands, launches 300 energy stores shrishakti.com October 30, 1999, 20:30 Hrs (IST) New Delhi: The International Finance Corporation (IFC) will provide a loan of 2.2 million dollars to the Hyderabad based Shri Shakti Alternative Energy Ltd (SSAEL) to set up a chain of energy stores across the country to help accelerate commercialisation of solar photo voltaic products and other alternative energy techniques. 'The first tranche of 2.2 million dollars will be part of the 30 million dollar loan which the project will eventually obtain in another six months,' D V Satya Kumar, managing director of SSAEL said here today. SSAEL will establish a network of over 300 energy stores in south India, Orissa and major towns in northern India to sell consumer products based on solar photo voltaic (PV) and other alternative technologies. IFC's funds for SSAEL is through an ongoing project called the Global Environment Facility (GEF) Photo Voltaic Transformation Initiative (PVMTI). The GEF is a financial mechanism that provides grants and concessional funds to developing countries for projects and activities designed to protect the global environment. PVMTI is being implemented by IFC's environment project unit as part of the corporation's efforts to engage the private sector in ventures with specific environment benefits. PVMTI intends to promote PV-based energy services in India, Kenya and Morocco. SSAEL is the latest enterprise of the Shri Shakti group. The flagship company of the group, Shri Shakti LPG Ltd is India's largest marketer of liquefied petroleum gas in the private sector, serving around 400,000 customers through a network of 350 dealers. Three energy stores are already operational in Hyderabad, Bangalore and Kakinada. UNI