Moser Baer to set up thin film project through SPV

New Delhi, Mar 5 (UNI) Moser Baer India Ltd today said it will set up a thin film project for its photovoltaic business through a special purpose vehicle.

The SPV, to be incorporated for the purpose, will fund the proposed thin film project through debt and third party sources.

The company received approval of its Board of Directors for the project.

The company's wholly owned subsidiary Moser Baer Photo Voltaic Ltd (MBPV) last week announced that it has successfully completed the final line integration and trials on its initial 40 MW crystalline photovoltaic cell production facility.

The company aims to achieve 80 MW of capacity in the second half of 2007.

UNI