Aries Waaree Solar Pvt. Ltd Bags a 40MW Power Plant Order From Adani Group in Gujarat, India

MUMBAI, India, September 29, 2010 - Aries Waaree Solar Pvt Ltd. (AWSPL), operating in the field of
engineering, construction and supervision of Renewable Energy Power Plants in
India has bagged order for engineering services to set up 40 MW Solar PV
Power Plant for Adani Group Gujarat India

Quoting Mr. V.K. Jain, Joint President & Head of Renewable
Power, Adani Group "We are very happy to award this order to AWSPL. Its good
to see that people are now moving towards Solar Power generation and this
Industry is picking up in India and I am sure that India will be a noted
player in the future at global level." This is the first step of Adani Group
towards Solar Power generation.

"We are delighted to develop this important project for Adani
Group. It is the first large scale solar MW project to be built not only in
India but in Asia and it represents an important milestone in the development
of solar energy in India." Said Mr. Alberto Sanchez, Business Development
Manager for Asia, Aries Ingenieria y Sistemas.

"It's a proud moment for the Aries Waaree Solar Private
Limited to get order from Adani Group, making us the major player in Solar
Power engineering company in India. Apart from engineering services we assure
our customers of very high quality PV modules and other products for Solar PV
power plants." Said Mr. Hitesh Doshi, Chairman of Waaree Group

AWSPL a Joint venture company between, Mumbai based Waaree
Group and Aries Spain.

Aries Ingeneria Sistemas S.A, Spain: Provides engineering
services including feasibility studies, basic and details engineering,
construction, commissioning and operation of projects in the Automotive,
Industrial, Defense and Security and Energy industries. In the Energy sector,
ARIES promotes clean energy resources through the design, build and operation
of CSP, PV and Wind farm setups. With presence over 20 countries and offices
located in Madrid (Spain), San Francisco (CA , USA ) and Shanghai ( P.R of
China).

Waaree Group, India has business interest in solar energy
(produces solar modules) Automation and process control instrumentation
(India's largest producers for gauges) Petrol station equipments, Valves and
Lubricants. With an all India presence Waaree products are exported to more
than 65 countries.

    Media Contact:-

    Devyani Mahyawanshi
    T: +91-22-6696-3030 /+91-9320328309
    Email: Devyani@waaree.com

    Website- www.waaree.com

Media Contact:- Devyani Mahyawanshi, T: +91-22-6696-3030 /+91-9320328309, Email: Devyani at waaree.com .