Bangalore, Mar 17: Tata BP Solar announced today that it had signed an agreement with Calyon Bank (Credit Agricole CIB) and BNP Paribas and among others to raise 78 million dollars to fund its 128 MW Solar Cell Expansion Project, which is in the advanced stages of implementation, It is another step towards realizing the designed potential of the 300 MW plant.
The current production line's capacity is already some 50 MW per annum, a company's press release said. The Company delivers products and solutions that serve both the Indian and global markets, earning substantial foreign exchange earnings for India while also increasing product supply locally. During 2006-07, Tata BP Solar achieved Rs 6,690 million sales revenue and is poised to exceed Rs. 8,500 million during 2007-08.
Tata BP Solar, a Tata Power and BP Solar joint venture, has been leading India' s solar industry for over a decade, it said.