Moser Baer pumps in Rs 32 cr in US company

New Delhi, Oct 11: Floppy and compact disc maker Moser Baer India Ltd today said its wholly-owned subsidiary Moser Baer Photo Voltaic Ltd (MBPV) has invested Rs 32 crore in a concentration photovoltaic (CPV) technology company the Palo Alto-based SolFocus Inc.

The agreement gives MBPV the exclusive distribution rights of SolFocus CPV panels in India and neighbouring countries, which is estimated to be amongst the fastest growing regions for solar energy business.

''This move represents a significant step for both SolFocus and MBPV towards commercialisation of CPV technology. Our strategy is to clearly straddle multiple future technologies and emerge as an engineering and technology driven company,'' Moser Baer CEO Ravi Khanna said.

Pilot production and field tests at MBPV are expected to begin in 2007 while the commercial production is planned in 2008. SolFocus also has pilot production underway in Sunnyvale, California, where over 4,000 panels will be produced for extensive reliability and field testing.

These investments into the first generation non-silicon based CPV technology form an integral part of MBPV's strategy to develop a sustainable competitive edge and technological leadership in this high growth industry, he said.

The solar concentrator technology holds significant potential to expand the global market and applications which today are restricted due to the high cost of silicon-based systems with respect to conventional energy, he added.

This investment follows strategic equity participation in another solar concentrator technology company, Solaria, announced a couple of weeks back.

UNI