Moser Baer to invest $1.5 bln for increasing PV capacity

New Delhi, Feb 11 (UNI) Moser Baer India plans to invest about 1.5 billion dollars for increasing its thin-film photovoltaic (PV) capacity to 600 MW over the next two years from the existing capacity of 40 MW.

''As part of the expansion plans, Moser Baer subsidiary PV Technologies India, has signed a memorandum of understanding (MoU) with a US-based equipment supplier to secure supply of critical equipment,'' a company statement said.

The capacity expansion would make Moser Baer one of the leading players in the the thin-film PV segment globally.

The proposed capacity expansion will take place at Moser Baer's manufacturing facilities at Greater Noida and Chennai.

The 1.5-billion dollar thin film expansion plan would be financed through a mix of debt and equity.

Thin film solar modules are ideal for energy farms, rural applications and building integrated Photovoltaic markets.

The global thin-film PV market is expected to grow to two giga watt (GW) by 2010 worth about five billion dollars from the current 250 MW.

The company is targeting a 30 per cent share of the growing global market.

UNI SG MP DB1345