Numeric Power Systems, a provider of uninterrupted power supply (UPS) systems, has decided to set up a 1 MW solar energy farm at Palladam near Coimbatore district of Tamil Nadu.

The company would setup its first solar independent power project (IPP), through its newly established subsidiary, Numeric Solar Energy Pvt. Ltd.

According to company officials, the company would buy solar cells from suppliers in Japan and Germany and configure panel modules and assemble them. The cost of the project is estimated at Rs 25 crore, which will be financed through internal accruals.

Ultra Motor Company, a leading electric cycle and electric scooter manufacturer, has finally launched its much awaited low speed scooter `Marathon Lite' in the Indian market.

The latest revealed vehicle comes with exciting new features like a 250w motor and 48V/20AH power packed battery, Magnetic Anti Theft Lock System, Spacious under seat storage option, Front Telescopic Suspension in Black, Yellow & Blue colour variants.

The latest scooter gives a maximum speed of 25 km per hour and covers a distance of 70 km with single charge. The company has fixed price tag of Rs. 25,850/- .

UTV New Media, a digital arm and subsidiary of UTV, has announced the launch of India's first mobile music video channel 'UTV@Play'.

According to the company, the facility is accessible by consumers with mobile accounts with Vodafone, BSNL, MTNL and Idea and users can download the application to access the content from a WAP portal.

The mobile channel is an extension of internet portal UTV@play and costs Rs10 per day or Rs 30 per month. UTV already offers a mobile service of its Bindass channel.

GVK Power and Infrastructure Ltd (GVKPIL), which provides generation, operation, and maintenance services to power plants in country is presently looking to divest stake in its roads and power ventures.

Latest reports suggest that the company is presently in talks with at least five players for divesting up to 49 per cent stake in these two segments. However, the company said that it would retain a majority stake of at least 51 per cent in these segments.

The country's largest lender, State Bank of India (SBI) has decided to extend the period of its concessional financing to the farmers against warehouse receipts by five months to September 30, 2009.

It should be noted that the state-run lender in February this year had started offering loans at a concessional rate of 8% to farmers against cold storage and warehouse receipts, in a bid to save them from falling prey to distress sale of their farm produce.

Earlier this week, the lender has extended its special home and car loans scheme last week at 8 per cent and 10 per cent respectively, for the first one year, till September

State-run telecom service provider MTNL intends to launch its third generation (3G) services in Mumbai next month as it targets a user base of 1,00,000 for the third generation mobile service by the year end.

The company has already embarked Rs 200 crore for building optic fiber networks in Delhi and Mumbai for providing fiber-to-the-home, or FTTH services.

The company had recently launched its 3G services `Jadoo' in central and some of parts of South Delhi. The company plans to expand its 3G services to the remaining parts of Delhi in the next two-three months.