Moser Baer Photo Voltaic (MBPV), a wholly-owned subsidiary of Moser
Baer India, has picked up 40% stake in Slovenia-based Solarvalue
Proizvodnja d.d. MBPV would acquire the stake from Germany-based
Solarvalue AG, which currently holds 100% stake in the Slovenian
company involved in solar silicon production.
Given the global demand-supply imbalance of silicon, the new investment would guarantee MBPV an assured supply of high-grade solar wafers. â€œThe total value of investment stands at $10 million, of which $6 million is the initial commitment, and the balance investment is based on certain milestones,â€ Moser Baer CFO Yogesh Mathur said.
MBPV is in the process of setting up a photo voltaic (PV) cell and module manufacturing project with an 80MW capacity in Indiaâ€™s first renewable energy SEZ at Greater Noida. It has already concluded trials for 40MW capacity and hopes to commission another 40MW by the second half of next fiscal. The companyâ€™s foray into the business comes at a time when the global PV space is expected to grow five-fold to Rs 135,000 crore by 2010. â€œThis investment gives us an assured supply of solar grade polysilicon, a key raw material for slicon-based photovoltaic project. At present, there is a shortage of polysilicon because of the high demand. While the raw material for the first 40MW is tied up through spot buying and medium-term supply contracts, the new investment is aimed at tying up the raw material requirements for the next phase of 40MW,â€ Mr Mathur said.
Solarvalue plans to set up a capacity of over 4,000 tonnes of solar grade silicon by end of 2008. With the acquisition MBPV now has a supply agreement for 40% of the output of the solar grid polysilicon project.
MBPV has so far picked up equity positions in California-based nanotechnology start-up Stion Corporation; and in two solar concentrator technology firms Solaria and SolFocus.
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