MOSER BAER INDIA said that its wholly owned subsidiary, Moser Baer Photo Voltaic (MBPV), has acquired 40 per cent equity stake, out of 100 per cent, in Slovenia-based Solarvalue Proizvodnja.
The first phase of 80-mw crystalline silicon plant of MBPV commenced trial production and is set to commence commercial production from later this month. According to MBPV CEO Ravi Khanna, “We will help Solarvalue Proizvodnja to augment its silicon production plant capabilities at Ruse in Slovenia.”
“Given the global demand-supply imbalance of silicon, the acquisition will help MBPV to have an assured supply of high grade solar grade silicon and aid in its objective of becoming a significant player in the photo-voltaic space,” the company said.
Solarvalue Proizvodnja plans to set up a capacity of 4,400 tonne of solar grade silicon by end 2008, it added.
MBPV plans to enter the solar power generation business by manufacturing solar cells and modules and is targeting an annual capacity of 80 mw in phase I.
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.
Source : merinews