Multi Sun Power Private Limited Goes PUBLIC!

Online, March 24, 2012 (Newswire.com) - DA Surya Shakti Services Private limited announces the conversion of its Project Company "Multi Sun Power Private limited" into a "Public Limited company". This step was taken by the management to accommodate private investors consisting of friends, families and the general public who have seen the potential in the project and expressed their desire to invest in the company. Multi Sun Power Private Limited (MSPPL) is now in the process of becoming a public limited company and will only offer shares to investors who will share in the long term expansion goal of the company. For becoming more transparent to its future investors, and through the NSDL system, shares will be registered into Demat format and will be available for trading.

DA Surya Shakti Services Private Limited (DASSSPL), already announced that it has signed a power Off-take agreement (PPA) with Mittal Processors Private Limited (MPPL), for 10 MW of solar photovoltaic (PV) energy. The project is the first independent PV project developed by DASSSPL, referred to as Project "SURYAVATH" registered under the wholly owned subsidiary Multi Sun Power Private Limited. The project will be located and commissioned in Pokhran, Rajasthan - India.

Project SURYAVATH, which is a 50Mw solar project in the process of coming up in Pokhran, Rajasthan will now be developed in five phases of 10Mw each in different SPVs.

The project will give a chance for multiple EPC players to bid and commission this project. Every phase of 10Mw will be an SPV on its own, which means the project company will have five (5) SPV's. This makes it easier for the developers DA Surya Shakti Services Private Limited to work with different partners and financial closure of these project phases becomes easier.

In addition to development in Rajsthan, DASSSPL will expand its presence in other sources of renewable energy fields,. where it expects to move from the regulatory process to the project development stage for an additional 500 MW of solar PV power generation.