News

Moser Baer to invest $5 Billion in solar power

By SiliconIndia | Tuesday, 10 November 2009, 18:15 Hrs | 1 Comments

New Delhi: Moser Baer Photovoltaic, an arm of Moser Baer India, is planning to invest $5 billion over the next 10 years to expand its solar photovoltaic manufacturing facilities in Chennai and Hyderabad.

Delhi-based company aims exciting opportunities in solar energy. Deepak Puri, Chairman and Managing Director, Moser Baer said, "Fresh fund-raising for the business could be considered next year. There are no plans as of now but we shall raise funds in the second and third quarters of next year."

Solar energy is expected to be a $250 billion global business by the year 2020. Last year, Moser Baer Photovoltaic raised more than

400 crore from a clutch of global private equity investors such as Nomura, CDC Group, Credit Suisse, Morgan Stanley and IDFC Private Equity.

The company is also planning to expand its solar energy facility at Greater Noida, but this has been delayed by the economic downturn that started last year. "At present we are going slow. The investment is for a longer duration," said Puri.

Don't Miss ( 1-5 of 20 )

10 Most Fuel-Efficient Cars in India

10 Famous Athletes Who are Businessmen

10 Cash Rich Indian Companies

10 Hottest CEOs of Silicon Valley

Why is Ambani Supporting a "Fraudst...

Write your comment now

Reader's comments(1)

1: I am very much surprised even companies like Moserbaer have been just focusing on solar PV module sales instead of focusing on solar PV solutions sales and this is the blunder mistake of some companies in this industry and as per my survey and reliable sources, system integrators who can provide solution rather than simply selling solar PV modules can survive!

Globally current crises in solar PV industry are attributed to too much dependence on German and other developed countries markets rather than where the need is there.

In sales, Money, Authority and Need are the important things to be identified and in this solar PV field, needy people supported with money(from Banks/MFIs) can ensure sustainable growth of this industry unlike money rich customers can grow this industry in good economic times but not during recession times. Needy customers will buy these solutions even in good and bad economic times

Posted by:Solar Sarma - 17 Nov, 2009