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I get some spare time [2/3 hrs daily and weekend ofcourse] which i want to invest on working on some opensource project particularly related to SOA , cloud techs ,,Any suggestions ??

A: 

How about Apache Nuvem , there seems to be lots of work : http://wiki.apache.org/incubator/Nuvem

umanga
A: 

I think the Java Parallel Processing Framework is a really cool tech, especially if you like cloud tech. From the home page:

  • a JPPF grid can be up and running in minutes
  • dynamically scalable on-demand
  • connectors with leading J2EE application servers
  • connector with GigaSpaces eXtreme Application Platform
  • easy programming model
  • fine-grained monitoring and administration
  • fault-tolerance and self-repair capabilities
  • exceptional level of service and reliability
  • fully documented samples, using JPPF on real-life problems
  • flexible open-source licensing with Apache 2.0

It also has a cool GUI console so you can monitor nodes:

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The Alchemist