Friday, November 30, 2007 : Moser Baer Photo Voltaic (MBPV), a wholly owned subsidiary of Moser Baer India, today announced that it has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan for setting up of a large Solar Power Project in the State with an estimated generation capacity of 1 ~ 5 MW. The project will be the largest grid-connected solar farm in India and entail an investment of around USD 25 million (Rs 100 crores) at USD 4.5 million per MW. The MoU was signed today at the ‘Resurgent Rajasthan’ summit at Jaipur between MBPV and Rajasthan Renewable Energy Corporation (RREC).
The SAARC region has large demand supply imbalances in energy generation capacities, with an increasing need to explore alternate and efficient energy sources. This offers a significant potential to Solar Photo Voltaic as an efficient energy option in the region. “MBPV aims to redefine the paradigms of solar power generation through its world class manufacturing and multi technology capabilities and demonstrate a commercially viable, grid-connected PV energy system in India through this project,” said Ravi Khanna, CEO of MBPV. “This project is a pioneering initiative in that direction and we believe that the SAARC region provides huge opportunity for such large sized projects,” he added.
Moser Baer is also evaluating various options for setting up large sized solar farms across the SAARC region with strategic tie ups with some of the leading global Solar PV companies and clean energy funds.
Mr Rajeeva Swarup, CMD, RREC, said, “We are happy to host this path defining solar power project by Moser Baer Photo Voltaic in the state of Rajasthan. The State will offer a ‘Single Window Service’ through the Bureau of Investment Promotion and make best efforts to facilitate approvals required for the Project from the Government agencies. Rajasthan offers significant opportunities for renewable energy projects and also has large natural resources conducive for setting up such non-conventional energy projects in the state.”
Moser Baer Photo Voltaic plans to emerge as a leading technology driven PV equipment manufacturer in the world by implementing a capacity of 500 MW by FY10 through a mix of technologies in the crystalline silicon, concentrator and thin film domain.
The company’s photovoltaic equipment manufacturing capacities for crystalline silicon, concentrator and thin film technologies are coming up in an SEZ in Greater Noida.
Power sector in Rajasthan
Rajasthan is on course to become self sufficient in power by 2008. Besides setting up new power projects in the state sector, the government is also promoting private investment in power generation. The state already has an installed capacity of 5,500 MW of power and will add 4500 MW by 2011-12 through state sector projects of 1500 MW, private sector projects of 1500 MW and central sector projects of 1500 MW. Over 520 MW of non-conventional power is already being generated by private units in the State.
About Moser Baer India Ltd.
Moser Baer, headquartered in New Delhi, India, was established in 1983. The company has successfully developed cutting edge technologies for recordable optical media, constantly innovating and introducing new products and process. The company currently has over 6,000 full-time employees and multiple manufacturing facilities in the suburbs of New Delhi. The company services it’s customers through 6 marketing offices and subsidiaries/affiliates in India, the US, Europe and Japan. An emphasis on high quality products and services has enabled Moser Baer to emerge as one of India’s leading technology companies. Moser Baer, through its wholly owned subsidiaries is in the business of manufacturing photovoltaic cells and modules by straddling multiple technologies including crystalline silicon, concentrator, nano technologies and thin films. Website: www.moserbaer.in
About Moser Baer Photo Voltaic Ltd.
Moser Baer Photo Voltaic incorporated in New Delhi, a wholly owned subsidiary of Moser Baer India Ltd, in the business of photovoltaic (PV) cells and modules. MBPV plans to manufacture solar cells and modules by straddling multiple technologies including crystalline silicon, concentration, nano technology and thin films. The manufacturing facilities are housed in a renewable energy SEZ at Greater Noida. Website :www.moserbaerpv.in