Moser Baer to invest Rs 100 cr in solar farm

Moser Baer Photo Voltaic (MBPV), a wholly-owned subsidiary of Moser Baer India, is investing $25 million (around Rs 100 crore) to set up India's largest grid-connected solar farm in Rajasthan.

The plant will have an estimated generation capacity of 1-5 MW. It has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan towards this end. "This project is a pioneering initiative in that direction, and we believe that the SAARC region provides huge opportunity for such large-sized projects," said Ravi Khanna, CEO of MBPV.

Moser Baer is also evaluating various options for setting up large-sized solar farms across the SAARC region with strategic tie-ups with some of the leading global Solar PV companies and clean energy funds.

It had recently announced a $880 million (around Rs 3,500 crore) eight-year sourcing tie-up with Norway-based REC Group. The deal could get Moser Baer Photo Voltaic (MBPV) around $1 billion in revenues over the period of the contract. It had also announced the shipment of its photovoltaic cells and claims to have orders and MoUs exceeding $100 million (around Rs 410 crore).