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November 01, 2005
Indian tech company enters solar cell manufacturing
India's Moser Baer, a world leader in the development and manufacture of removable data storage media, announced last week that it will start manufacturing photovoltaic solar energy cells.
The company sees its entry into the segment as a lead over competition as setting up a solar photovoltaics plant in India. MBIL is targeting a capacity of 80 megawatt by 2007.
The initial project is estimated to be 260 crore Indian Rupee (1 Indian rupee = 0.0221638 U.S. dollars) and the project will be spearheaded by a wholly-owned subsidiary in which MBIL will pump in Rs 112 crore.
Photovoltaic technology converts solar energy into electricity directly. The segment is expected to grow five-fold to a global market size of Rs 135,000 crore.
A pioneer among globalizing Indian firms, Moser Baer has a presence in over 82 countries, serviced through six marketing offices in India, the US and Europe, and enjoys strong tie-ups with all major global technology brands.
Posted by admin at November 1, 2005 12:52 PM