XL Telecom & Energy, a Hyderabad, India-based company focused on solar energy segment, has entered into a joint venture agreement with Spain-based SDEM Tega for solar power projects EPC business.

SDEM Tega will work with XL Telecom & Energy across the globe for bidding for and executing solar power projects jointly.

XL Solar and SDEM Tega will initially explore India’s solar initiative along with the growing Latin America, North America and Australian markets to capture significant market share, the companies said.

Dinesh Kumar, CEO and managing director of XL Telecom & Energy, said: “XL is excited to join the hands with SDEM Tega for exploring the global solar power projects initiatives and with our manufacturing and execution capacities and ability to deliver huge quantities at speed, we should be able to be extremely competitive and effective to our customers.”

Antonio Lara, CEO of SDEM Tega, said: “We are looking forward to explore the $2bn India opportunity immediately by working with XL, while XL’s manufacturing and execution abilities will help us to be more competitive in delivering value proposition to our European customers.”

SDEM Tega is a solar EPC company with experience in implementing solar power projects as EPC contractor in Europe.