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Moser Baer invests into PV technologies
Posted On : 2006-08-29 09:08:13( TIMEZONE : IST )
Moser Baer India Ltd has announced that the Company has received the approval from its Board of Directors on August 29, 2006, to invest an additional USD 17 million (INR 792 million) in Moser Baer Photo Voltaic Ltd (MBPV), its wholly owned subsidiary in the high growth global photo voltaic industry. This investment will be in a phased manner and provide further impetus to MBPV´s technology & R&D initiatives into exciting & emerging technology verticals in the global PV space.
MBPV is setting up a PV cell & Module manufacturing project with an 80 MW capacity in India´s first renewable energy SEZ at Greater Noida, UP, India. MBPV is leveraging on group´s core strengths in base material engineering, thin film coating and precision sputtering, to emerge as an efficient manufacturer of PV cells using silicon based technology.
The global photovoltaic market is on a high growth curve - sales expected to grow over 6x to USD 40 billion by 2010. This demand is also highly price elastic. A lowering of PV electricity costs to conventional levels could exponentially expand this market as PV starts to penetrate into base load demand of electricity.
"MBPV has been aggressively evaluating emerging alternative technologies which provide a clear roadmap to take PV electricity costs down to conventional energy price points. This investment will enable MBPV to take position in technologies, like nano, concentrator photovoltaic (CPV), etc, which should enable us to differentiate ourselves and also provide a sustainable competitive edge and technological leadership." Mr Ravi Khanna, Chief Executive Officer, Moser Baer Photo Voltaic Ltd, said.
Over the past couple of quarters MBPV has made steady progress and has already executed contracts for supply of equipment and technology. The project is on fast track to commercialization by 4QFY07. The business should also improve overall returns on capital employed, as it is significantly less capital-intensive than the existing business.
