s Canadian subsidiary Atlantic Solar Inc., will be responsible for developing the solar energy plant in Burlington.
For arriving at its ratings, CRISIL has combined the business and financial risk profiles of AWSL and its wholly owned subsidiary Forbes Aquamall Ltd (FAL).
CRISIL believes that AWSL will maintain its steady business risk profile over the medium term, supported by EFL's established market position, and the favourable outlook for the domestic water purification market.
Incorporated in 1980 as Andhra Pradesh Industrial Components Ltd, AWSL became a wholly owned subsidiary of EFL in 1983.
Canadian Atlantic Wind and Solar Inc (PINK:AWSL) said it has agreed to buy a 60% stake in Toronto-based Aim Global Energy Inc (AIM), the producer of the converter/inverter (CIT) technology implemented in AWSL
's systems.No financial details were provided.Via the transaction, AWSL
aims at streamlining the supply chain, lowering the costs for the delivered inverters and achieving synergy effects.AIM's technology is used for registering a high performance in solar and wind power systems.