Chennai: New Delhi-based leading optical storage media manufacturer Moser Baer (India) has chosen Chennai to set up a Rs 2,000 crore solar photovoltaic fabrication facility. The Centre had recently announced its investment guidelines for the Indian semiconductor industry signaling a new era in the country's emergence as an electronics manufacturing hub.

Photovoltaics (PVs) or solar cells produce electricity from a light source - mostly sunlight. Solar cells that are connected together mounted on a frame or platform are called PV modules. Moser Baer makes both solar cells as well as modules.

The solar PV facility is expected to come up on 120 acres at the Oragadam-Sriperumbudur SIPCOT SEZ. However, the company has sought about 250 acres for its Chennai unit, provisioning for future expansion.

The plant will be developed in two stages. In the first stage, a single thin-film solar fabrication facility will be set up in 15-18 months following the land acquisition process, according to Moser Baer officials.

"In the initial phase, the plant is expected to create around 4,000 jobs, including for engineers and research scientists," said Deepak Puri, MD, Moser Baer India. The plant is expected to generate revenues of about $1 billion over the next 3-5 years.