Dec 22 2010
Moser Baer India declared that its solar photovoltaic business unit has become the first Indian company to accomplish 100 MW worth of solar power erections across the world.
The company has announced its intentions to invest around $600 million over a period of three to four years to augment its production capability of crystalline solar cells and silicon modules at its production facility in India.
The company has announced its plans to make the investments by utilizing a mix of equity, debt and its own accumulated funds. Currently, the company manufactures 90 MW of crystalline cells, 50 MW of thin films, and 100 MW of crystalline solar modules. The company claims that its crystalline solar modules have been recognized by financial institutions and leading banks as bankable and the brand is preferred by the solar farm developers.
According to Yogesh Mathur, CFO of Moser Baer India, establishing the National Solar Mission (NMS) in India is anticipated to make the Indian solar markets to reach 700 MW during the next financial year where as it has seen only 150 MW growth in the current year. He explained that during the initial stage his company wanted to double the production capability of silicon modules and later wanted to augment the production capability of thin film modules by 150 MW during 2012-13. He clarified that thin-film solar modules are best suited for the Indian solar market.