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March 05, 2007 16:18 IST
Moser Baer, maker of computer compact discs, on Monday said it will invest $250 million over the next three years to set up a thin film solar fabrication facility.
The company has entered into a technology partnership with US-based Applied Materials to build the unit in its existing SEZ at Greater Noida, Moser Baer chairman and managing director Deepak Puri said.
The project will help generate 200 MW of solar energy by 2009, he added. "According to market figures, the thin film based solar modules market is expected to reach a size of $5 billion globally by 2010 with a demand of 2 GW," Puri said.
The unit for making thin films would be commercially operational by March 2008 and the construction will begin next week, he said.
"The company will start with a capacity of 40 MW, which will be increased to 200 MW by 2009. With this initial capacity, we are expecting a turnover of $100 million annually," company's CFO Y B Mathur said.
We would focus on global markets initially to sell our product, he added. Moser Baer is also expecting government incentives under the recently announced semiconductor policy.
Applied Materials CTO Mark Pinto said, "India holds tremendous potential both as a worldwide hub for solar panel production and as an end market for photovoltaic electric power."
Applied Materials, world's largest maker of semiconductor related equipments, posted a turnover of $9 billion last year and employs about 13,000 people worldwide, including 800 in India.
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