RENEWABLE ENERGY

Advanced Energy secures Indian partner

Advanced Energy Systems has signed an MOU with an Indian partner which is hopeful of selling A$10...

The deal is with Rajasthan Electronics and Instruments Limited (REIL), kicking off with a new order for thirty advanced power conditioners for REIL customers.

REIL says is confident of accessing a market of about 1000 medium capacity AES units in India over the next five years, representing potential revenue of AU$10 million.

The Indian company currently has 40,000 installations in small remote industry applications in India and wants to retrofit AES systems to these installations progressively over the next five to ten years.

This represents a further opportunity with a total value of $60million and is also an opportunity for high volume production for AES in the region.

AES has recently completed business approaching $500,000 with REIL and believes this relationship will steadily grow into a sound commercialisation program over the next five years.

The company also recently joined the growing list of Australian juniors/minnows finding their feet in the massive US energy market - signing an agreement with the Arizona Public Service (APS), a utility with over 10 megawatts of installed renewable energy systems.

This coincided with the successful marketing of its products in East and South East Asia with new orders from the region reaching $1.2 million.

Sales of the company's proprietary products have been confirmed in countries from Hong Kong, Taiwan and Indonesia to the Philippines, Malaysia and China.

AES says it is is confident of further new orders of approximately another $1.0 million by late January 2004.

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