DGAP-News: De Raj Group AG: Strategic Solar Power Alliance with WIRCON GmbH and Wattkraft Group

Strategic Solar Power Alliance with WIRCON GmbH and Wattkraft Group
 
Cologne, 3 June 2019: De Raj Group AG is pleased to announce a strategic alliance with WIRCON GmbH and Wattkraft Group of companies, for the implementation of solar power projects on a joint basis wherein Wattkraft, along with their partners, will be responsible as Technical advisor, System integrator and Solution provider. Wircon will be responsible for the portion of EPCIC (Engineering Procurement Construction, Installation and Commissioning) of awarded solar power projects and De Raj will be responsible for being the concessionaire or asset owner and operator of awarded solar power projects.
 
Speaking on the development, Nagendran Nadarajah, the Chairman of the Management Board of De Raj commented "This marks De Raj's entry into the Solar power generation business and is in line with our stated objective of economic development with a clear conscience. We are proud to be embarking on this new business area with a world class organization like Wircon and Wattkraft."
 
Commenting on the development, Giovanni Migliore, CEO of Wattkraft, said: "This cooperation at a high professional level marks the first milestone, in which our goal for development in Hungary and Ukraine has reached. We are very positive and proud about the partnership with De Raj Group. We are expecting great collaboration in achieving the target of greener Europe and sustainable future. Our existing long-term relationship with Wircon Group reaches the next step for our shared vision."
 
Wircon CEO said "We are excited to be part of this development and wish to be involved in this partnership for other projects in the future as well."
 
For more information please visit the corporate websites:
https://www.thederajgroup.com
https://www.wattkraft.com
https://www.wirsol.com
 
 
About the De Raj Group:
The De Raj Group AG is listed in the market segment "Standard Market Auction" on the EU-regulated market (Amtlicher Handel) of the Vienna Stock Exchange (Wiener Börse) since Feb 8th, 2018. The shares are also listed since March 23rd, 2018 at the Open Market in Frankfurt / Main and at XETRA of Deutsche Börse AG. The De Raj Group is strong in the Oil & Gas sector and Power Generation sector, where it owns and operates strategic equipment/facilities in both of these sectors which are provided on mid-to long-term lease to the market. In the Power sector, it was involved in both conventional power generation and CHP (Combined Heat and Power) generation. The Group is embarking on an international expansion plan in the Middle East and the Asia Pacific region. The Oil & Gas division of the Group provides specialist services supported by IP patents for the full spectrum of the upstream Oil & Gas supply chain, particularly in the South East Asian region. The Group owns a diversified portfolio of assets comprising jack-up rigs and topside equipment. These jack-up rigs, with the readily available equipment can be modified quickly to suit client requirements for offshore facilities in the development of marginal fields, including as well enhancement of production in producing fields. This supports very well Oil companies desire for early monetisation of hydrocarbon with cost effective solutions.
 
For further information:
De Raj Group AG, Investor Relations, mailto: ir@thederajgroup.com