Moser Baer’s ambitious US$1 billion solar plans

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Executive director, Ratul Puri, has announced that his company will be investing around US$1 billion in developing 300 megawatts (MW) worth of solar projects. The pipeline is set to be equally divided between India and the rest of the world.

In India , Moser Baer has zeroed in on the states of Gujarat, Rajasthan, Orissa and West Bengal, whereas, overseas it has sights on Germany, Italy and the United Kingdom. The company did not disclose the breakup of the capacity for individual sites.

"We are well-funded right now; we raised around $1 billion in the last 12 months. We commissioned 100 MW in solar projects from April-September 2011, and will add 300 MW more through solar projects in the next nine months," Ratul said during a press conference, held at a Bloomberg-UTV event in New Delhi on December 7.

Moser Baer reported a sales turnover of INR 5.32 billion (around US$99.9 million; €74.6 million), and a net loss of INR 0.620 billon for the quarter ended September 2011. The company’s current production capacity comprises 170 MW worth of crystalline photovoltaic cells, 150 MW worth of crystalline modules, and 50 MW worth of thin film products.

It has also recently commissioned two large projects. The first in the state of Gujarat, India with a capacity of 30 MW was commissioned in mid-October, while the second one represented the 23.8 MW project in Lauta, Germany. The German project was financed through long-term debt funding from DKB Bank, Germany, which has also financed the company’s Thuringen and Meissens projects.