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Moser Baer Recieves PV Investment
September 22, 2008
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New Delhi, India [RenewableEnergyWorld.com] The wholly-owned solar photovoltaics (PV) subsidiary of Moser Baer India Limited has entered into definitive agreements to raise US $93 million from a consortium of global investors in order to fund growth plans. This investment is intended to fund the expansion of crystalline silicon cell manufacturing to 180 megawatts (MW) and amorphous silicon thin-film to 120 MW. The company currently has an annual capacity of 120 MW, including 40 MW of amorphous silicon thin-film modules.
"This funding from global investors will provide great impetus to the expansion plans we have for the PV business."
-- Ratul Puri, Executive Director, Moser Baer 
The investment round, which included Nomura, CDC Group, Credit Suisse, Morgan Stanley, IDFC PE and IDFC follows a previous private equity funding transaction of US $90 million in November 2007. This new set of transactions values Moser Baer's PV business at US $1.44 billion.
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Our associates in India reviewed several projects in states that are endowed with very high renewable solar & wind resources. They undertook technical study and performed financial analysis of few solar and wind power projects. Renewable energy resources were factored into the available financial incentives and supports, including the high degree of current political will. Interested investment community would love to enjoy the very high DSCR and ROI that resulted from the investment analysis. Additionally, the availability of very attractive state incentives make the financial returns, even much more attractive.
Traditionally, a large part of power generating equipments used to be imported until few years ago. However, the continued growth of SUZLON wind and Moser Baer in solar and system production from many other competitors, has made it much easier to build wind and solar projects in India.
There is an open RFP for renewable power projects from the renewable energy department; project need to be operating before Dec 31, 2009.
Peter K Duttaroy, PE
PDR Assocs Energy Group
732-390-8069
info@pdrassocs.com