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 Rs. 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.
