By IANS
Mumbai : Electronic data storage manufacturer Moser Baer India Ltd’s wholly owned subsidiary PV Technologies India Ltd Monday said it has signed a MoU with a global equipment supplier for a 565 MW phased expansion of its thin film photovoltaic modules manufacturing capacity.
According to a statement issued by the company, the supply of the critical equipment will take its total manufacturing capacity to over 600 MW by 2010.
The company plans to expand its solar power generation business by manufacturing solar cells and modules, and is targeting an annual capacity of 80 MW in the first phase.
The initial project cost is estimated to be Rs.2.60 billion ($58 million), with Moser Baer investing Rs.1.12 billion ($25 million) in the new venture.
Ravi Khanna, CEO of PV Technologies, said: “We see an increasingly significant role for thin film technologies in meeting peaking power requirements.”
“The thin film based solar modules will see large emerging applications and a robust demand that, according to industry estimates, is expected to grow tenfold – from 250 MW currently to 2 GW with a market size of $5 billion by 2010,” Khanna said.