Moser Baer acquires 40 pc in Slovenia's Solarvalue

By Staff
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Google Oneindia News

New Delhi, Mar 31 (UNI) Leading optical storage manufacturer Moser Baer India today said its wholly-owned subsidiary, Moser Baer Photo Voltaic (MBPV), has acquired a 40 per cent stake in the Slovenia-based Solarvalue Proizvodnja d d from Germany's Solarvalue AG.

Solarvalue AG currently owns 100 per cent in the Slovenian company.

The company beleives that the takeover will help MBPV to have an assured supply of high grade solar grade silicon and aid in its objective of becoming a significant player in the photo voltaic space.

Solarvalue Proizvodnja plans to set up a capacity of 4,400 tonnes of solar grade silicon by end-2008.

''The acquisition is part of our objectives to access high quality solar grade silicon at competitive pricing. We can leverage the benefits of the deal to achieve leadership position in the industry,'' MBPV Chief Executive Officer Ravi Khanna said. It also meets Solarvalue's long term goals to emerge as the leading producers of solar grade silicon. Moser Baer will help it to augment its silicon production plant capabilities in Ruse, Slovenia, Mr Khanna said.

Moser Baer said the first phase of 80MW crystalline silicon plant of MBPV has commenced trial production and is well on its way to commence commercial production in April.

UNI

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