Moser Baer to raise Rs 411 cr from global investors

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New Delhi, Sep 4 (UNI) Moser Baer India today said its wholly-owned solar photovoltaic (PV) subsidiary has entered into agreements with a group of global investors to raise Rs 411 crore for its expansion.

The consortium includes Nomura, CDC Group, Credit Suisse, Morgan Stanley, IDFC and IDFC PE.

''The transaction now value Moser Baer's PV business at Rs 6,350 crore,'' Moser Baer Group Chief Financial Officer Yogesh Mathur told reporters here.

Moser Baer plans to use the capital for expanding its capacity of crystalline silicon and thin film solar vertical.

The company currently has an annual capacity of 120 MW, including 40 MW of amorphous silicon film modules.

The fund would also be used for the expansion of crystalline silicon cell manufacturing to 180 MW and amorphous silicon thin film to 120 MW.

UNI SR SG KP1345

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