Indosolar Limited (533257.BSE), is one of the leading solar cell producer in India. Indosolar, claims to be the leading Indian manufacturer for photovoltaic cells, currently 160 MWp capacity which is to be expanded to 260 MWp by end of 2011 fiscal year.
Indosolar on Monday said it will invest Rs 550 crore (US$126 million) to add a 200 MW line at its cell manufacturing unit. The company had earlier planned to set up a SPV cell manufacturing unit of 100 MW but with its German technology partner, Schemid Technology Systems offering a 200 MW line at an economical price, it has decided to increase it.
This is a good move by the company as it is expected to be one of the biggest beneficiary of the domestic content requirement in the National Solar Mission and the announcement from the government that it is not being waived.