Salzer Electronics Ltd, a leading player offering total and customized electrical solutions, has secured a letter of intent worth Rs 18.70 crore from Energy Efficient Services Ltd (EESL), a joint venture company of PSUs under the Union Ministry of Power.

The scope of the order includes designing, manufacturing, supplying, installing, commissioning, testing and maintaining of lighting controls for installed LED streetlights in the urban local bodies-Varanasi (Uttar Pradesh), Jalna (Maharashtra) and Jharkhand, said the company in a filing on Monday.

Commenting on the development, D Rajesh Kumar, Joint Managing Director and Chief Financial Officer of Salzer Electronics said, “Salzer is one of the largest ESCO in the country and this is proof of the capability of doing large scale implementation of energy efficiency related projects at pan India level. The overall size of energy efficiency market in India is estimated to be Rs 74,000 crore. Till now, only 5% of this market has been tapped through ESCO mode mainly in the areas of lighting and some industrial applications. Way forward, Salzer would actively take part in the energy efficiency market and make aggressive bidding in the upcoming projects from EESL and other government utilities”.

Recently, Salzer had successfully executed an energy efficiency project under public private partnership in the state of Tamil Nadu.

EESL is a joint venture of NTPC Ltd, Power Finance Corporation, Rural electrification Corporation Ltd and Power Grid Corporation of India Ltd to facilitate implementation of energy efficiency projects.

Based in Coimbatore, Salzer Electronics Ltd is engaged in manufacture of rotary switches, load break switches, cable ducts, terminal connectors, toroidal, transformers, relays and contactors, limit / foot switches, modular switches, energy saver, AMR, custom built products, motor control products, magnet wires, flexible bus bars, wire harness assemblies, cable assemblies.

Shares of the company were trading in red at Rs 181, down 0.08% from the previous closing of Rs 181.15, on BSE at 11.18 am today.

here is company details.

 

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