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Birla Power Solutions to raise $100mn private equity in FY12- to foray into solar power

According to reports, portable generator-maker Birla Power Solutions is looking at raising up to $100 million in the current financial year from private equity players to part finance its diversification plans, the company’s managing director said. The Yash Birla-led company has planned an investment of 10,000 crore over the next five years to foray into thermal and solar power .For this, Birla Power Solutions may sell up to 15% stake in itself or up to 26% in its subsidiary, Birla Urja, to a private equity player, PVR Murthy said.

“We are talking to 3-4 global private equity investors. Traditionally, we have not had institutional investors but if we are growing big, we need to have them,” Murthy said. The company could induct a representative of the PE fund on the board of the company.

“We would rope in their professional practices. We have no issue if they come in at parent company level or at subsidiary level,” Murthy said.

In August last year, Birla Surya, a a part of the diversified Yash Birla Group (YBG), selected GT Solar to provide its DSS450HP crystallization furnaces for the India’s first integrated PV wafer-cell manufacturing facility located in Pune.

GT Solar GT Solar International, Inc. (NASDAQ: SOLR), a global provider of polysilicon production technology, and sapphire and silicon crystalline growth systems and materials for the solar, LED and other specialty markets. The company’s products and services allow its customers to optimize their manufacturing environments and lower their cost of ownership.

Subsequently, Birla Surya, has selected GT Solar  for its polysilicon production technology and related engineering services that will be used by Birla Solar that will be used in India’s first large-scale commercial polysilicon production facility located in Chhattisgarh.

GT Solar will be providing all aspects of polysilicon production including CVD reactors, chlorosilane recovery and trichlorosilane production and purification technology for the new production facility.

It seems like the  Yash Birla Group (YBG),  has plans of playing along entire solar pv value chain going by the annoucements and developments over the last year.

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