According to reports, leading solar photovoltaic company, Moser Baer Solar (MBSL), has planned a capital expenditure of $500-600 million over the next three to four years for expanding its manufacturing capacity of crystalline cells and crystalline silicon modules in India, a senior company official said.
“Considering the huge potential in the solar power sector, both in the global as well as Indian markets, we have planned a capex of $500-600 million over the next three to four years for expanding our manufacturing capacity of crystalline cells and crystalline modules,” Moser Baer India’s Group CFO, Yogesh Mathur, said in Mumbai.
The company plans to raise the funds through a combination of debt, equity and internal accruals.
Currently, the production capacity of the company includes 90 MW of crystalline cells, 100 MW crystalline modules and 50 MW of thin films.
With the launch of the National Solar Mission (NSM), the Indian solar photovoltaic (PV) market is poised to grow to 700 MW in the next fiscal as against the 150 MW capacity in FY 11, he said.
“In the initial phase, we plan to double our capacity of silicon modules. Later we plan to expand the capacity of our thin film module to around 150 MW by 2012-13,” Mathur said.
Thin film modules are best suited for meeting the solar power demand of the Indian market, he added.