Breakthrough for S.D.E Company: A Memorandum of Understanding, for Building a 5MW Sea Wave Power Plant, Was Signed Between S.D.E Company and the Government of Gujarat, India

TEL AVIV, Israel - Recently, S.D.E’s subsidiary, Om Sai Mantra Powergen Pvt ltd, has signed on an MOU with the Government of Gujarat, represented by Energy & Petrochemicals Department. You can see a video about S.D.E’s activity, produced by Israeli Foreign Office, in the next link: ilctn.blogspot.com/2008/09/sde-cooperates-with-chinese-government_10.html

This Memorandum of Understanding was signed at Ahmedabd (Gujarat, India) during

Vibrant Gujarat Global Investors’ Summit 2009. Mr. Sailal Jedhiya, one of the directors in S.D.E’s subsidiary, has signed the MOU on behalf of the Company, and Mr. V.H. Buch, a director of the Energy & Petrochemicals Department, has signed on behalf of the Government of Gujarat. The president of S.D.E ltd and Om Sai Mantra Powergen Pvt Ltd, Mr. Shmuel Ovadia, had prior commitments in the US, and could not arrive to the Summit. However, he has sent his congratulations for this accomplishment and said that “this is an important breakthrough for S.D.E Company”

According to the MOU, Om Sai Mantra Powergen Pvt ltd intends to commence commercial production of a 5MW Power Plant, in total worth of 5,000,000 Million USD by December 2010.

In order to enable Om Sai Mantra Powergen Pvt ltd to implement the above project, the Government of Gujarat said that it would facilitate Om Sai Mantra Powergen Pvt ltd to obtain necessary permissions/registrations from concered departments of the State and Central Government and would also help to avail incentives under various schemes announced by the State/Central Government, wherever applicable. In the next phase, S.D.E will build a 100MW sea wave power plant, and the Government has authorized a budget of 700,000,000$ Million USD, for this purpose.

This is a very important accomplishment for S.D.E Company that was maintaining contacts with the Indian National Electric Company, PCT India, since the beginning of 2007. In that year, PCT India has issued a letter that stated that PCT in-principle agrees to purchase power from the aforesaid project on long term basis, subject to Power Purchase Agreement.

Till this day, the company has built 8 models that have been successful and the last of them has produced 40kW/h. The models were financed, Checked, and approved by the Israeli Government.

For further details Please contact: Mrs. Inna Braverman, International Marketing Manager of S.D.E, or Mr. Shmuel Ovadia, CEO. Phone number: +972-(0)3-73971071 Fax Number: +972-(0)3-6319239 E-mail Address: abe@shani.net

Source: SDE Ltd

For further details Please contact: Mrs. Inna Braverman, International Marketing Manager of S.D.E, or Mr. Shmuel Ovadia, CEO. Phone number: +972-(0)3-73971071, Fax Number: +972-(0)3-6319239, E-mail Address: abe at shani.net