Yash Birla Group said on Thursday its group firm Birla Surya would invest Rs 5,400 crore over next five years to set up an integrated facility for fabrication of multi-crystalline silicon wafers and solar photovoltaic cells.
The first phase of the project will involve an investment of Rs 1,493 crore, funded through a debt of Rs 970 crore, the group said in a statement.
Asia Pacific Capital will invest $15 million as private equity in the project. Birla Surya will start commercial production by December 2011, it said.