India, Mumbai, 14th July 2015 – Rolta Power Pvt. Ltd. and China-based Zhenfa New Energy Science and Technology Co. Ltd. has signed an MoU to conduct and capitalize on joint EPC opportunities and project developments in the flourishing solar industry of Indian sub-continent. An unwavering policy by the Indian government to mitigate climate changes, improve the living standards and environment of India, India’s Prime Minister, Shri. Narendra Modi has committed of generating 100 GW of clean solar energy by 2022 and reduce carbon emission from traditional fossil fuels, a move that has been accelerated to make India an energy efficient country. In June 2015, the target for solar-capacity addition under the Jawaharlal Nehru National Solar Mission (JNNSM) was revised to 1,00,000 megawatt (mw) or 100 gigawatt (gw) by 2022, from 20,000 mw set earlier (See http://pib.nic.in/newsite/pmreleases.aspx?mincode=28) This strong and clear direction was further re-enforced by Shri. Narendra Modi when he earlier this year visited China, to strengthen strategic partnerships between these two largest Asian countries (See http://www.ndtv.com/cheat-sheet/24-agreements-signed-between-india-and-china-during-pm-modis-visit-763246). From the inter-country relationship that our 2 countries’ leaders fought so hard to strengthen, we at the inter-company level must follow suit with concrete actions. “As per the MoU, the partnership enables us to share our revenue with Zhenfa, a win-win scenario for both the companies,” said, Dr. Aditya K Singh, Managing Director, Rolta Power Pvt. Ltd. He further commented, “With our 2020 vision, we believe that through this partnership we can together install at least 2GW by the year 2020 and generate revenues of approximately USD 2.03 Bn. or about Rs. 13,100 crores”. Zhenfa’s chairman, Mr. Zhenfa Zha said, “We have been exploring the Indian market for some time and are happy to have found the right and able partner like Rolta Power for our India interests. We will bring our extensive EPC skills and advanced technologies to construct utility scale solar stations, supplying electricity to millions of consumers in India and play an essential and responsible role to help alleviate the severe shortage of power supply and improve the ecology”. These projects will also serve Indian society, by creating over 2000 jobs. Zhenfa New Energy Science and Technology Co Ltd is a part of the Jiangsu Zhenfa Holding Group Co., Ltd, which was set up in 2004 with headquarter in Wuxi, China. Its focus on mega solar projects in the middle kingdom has propelled it to the No. 1 EPC and No. 4 project developer spots in China solar industry in the year 2014. Rolta Power is headquartered in Mumbai and is a new entrant in the Rolta Group fully owned by Rolta Pvt. Ltd.