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Moser Baer may mull IPO for Clean Energy arm next year

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 in December last year. The technical expertise for commissioning was provided by the EPC (Engineering Procurement Commissioning) arm of Moser Baer Solar Limited.

Since, International Finance Corporation (IFC), a member of the World Bank Group, announced an investment of $4 million in India’s Sapphire Industrial Infrastructures Private Limited, subsidiary of Moser Baer Clean Energy Limited, in the Sivaganga project.

Also, MBCEL had announced  plans to raise more than $100mn to fund its solar projects in Jaunary this year.

According to reports, Moser Baer (India) official said the company might consider initial public offer (IPO) for its arm Moser Baer Clean Energy next year, reports CNBC-TV18 quoting NW18.

The company also said it planned to raise funds for solar energy operations.

Moser Baer Clean Energy, a renewable energy development company, focuses on the implementation of grid connected solar photovoltaic (PV) projects.

Company has projects in states like Tamil Nadu, Gujarat and West Bengal, which are under implementation, according to the company’s website.

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