Home » Finance » IFC invests in India’s first large-scale thin-film solar plant to promote clean energy

IFC invests in India’s first large-scale thin-film solar plant to promote clean energy

As readers of Panchabuta are aware,  Moser Baer Clean Energy Limited (MBCEL), a subsidiary of Moser Baer Projects Private Limited (MBPPL) has commissioned the country’s largest and the first 5 MW solar farm at Sivaganga in Tamil Nadu less than a month ago. The technical expertise for commissioning was provided by the EPC (Engineering Procurement Commissioning) arm of Moser Baer Solar Limited.

According to reports, the International Finance Corporation (IFC), a member of the World Bank Group, is investing $4 million in India’s Sapphire Industrial Infrastructures Private Limited to implement the country’s first large-scale grid-connected thin-film solar plant. IFC said the plant will help bolster clean energy locally and provide additional electricity to about 11,000 people.

IFC’s investment in Sapphire, subsidiary of Moser Baer Clean Energy Limited, will support construction of the 5-megawatt solar plant at Sivaganga in Tamil Nadu, a southern state in India. The plant, with a capacity of 8 million units of power a year,is expected to avoid approximately 6,600 metric tons of greenhouse-gas emissions annually.

“IFC recognizes the potential of large-scale solar-power generation to help meet India’s enormous energy needs,” said Rajya Ghei, Country Head Solar Farms, Moser Baer Clean Energy Limited. “The learning from this project will help us replicate similar projects in other Indian states,”.

Until recently, grid-connected solar electricity received limited interest from private sector due to higher initial investment and generation costs than conventional energy sources.

“India is keen to diversify its energy mix by pursuing climate friendly renewable technologies,” said Anita George, IFC Director for Infrastructure in Asia. George said the successful commissioning of this first large-scale thin film solar photovoltaic plant demonstrates private sector’s ability to rise to the challenges associated with achieving a balanced energy mix.


  1. Moser website says”IFC has been requested to provide
    financial support of ~US$4 million to the project” which does not mean that the funding has laready happened. Please check the facts.

Scroll To Top