Eon Electric (EEL), a manufacturer of a wide range of LED lighting products, has secured contract worth Rs 510 million for supply of LED streetlights in Aligarh, UP and Jodhpur, Rajasthan.

V.P. Mahendru, chairman, Eon Electric said, ''It's gratifying for Eon Electric to have won the LED street lighting projects in the open bidding process of the government sponsored Energy Efficiency Services (EESL) and for being associated with the Uttar Pradesh and Rajasthan government of India's recent initiatives to conserve energy through replacement of conventional lights by LED lights, the industry specialists have projected, that the demand for LED streetlights in India to be worth Rs 395 billion by 2020.

Accordingly, Eon has expanded its portfolio from conventional / CFL lights to a range of LED bulbs and LED streetlights, to support the national objective of 24x7 power supply for all through indigenous manufacturing.''

The company is installing 60,000 LED streetlights at Jodhpur and 13,000 at Aligarh.

Shares of the company gained Rs 6.65, or 17.34%, to trade at Rs 45.00. The total volume of shares traded was 55,433 at the BSE (11.37 a.m., Tuesday).