Moser Baer setting up grid connected solar farm

New Delhi: Moser Baer Photo Voltaic (MBPV), a wholly-owned subsidiary of Moser Baer India, on Friday announced it would set up India’s largest grid connected solar farm in Rajasthan with an estimated investment of Rs 100 crore.

The company has signed a memorandum of understanding (MoU) with the Rajasthan Government for setting-up of the large solar power project in the State with an estimated generation capacity of 1-5 MW.

“The project will entail an investment of around $25 million (Rs 100 crore) at $4.5 million per MW,” the company said in a statement here.

The MoU was signed today at the ‘Resurgent Rajasthan’ summit at Jaipur between MBPV and Rajasthan Renewable Energy Corporation (RREC).

The company said that the SAARC region provided huge opportunity for such large sized projects.

“The SAARC region has large demand supply imbalances in energy generation capacities, with an increasing need to explore alternative and efficient energy sources.

This offers a significant potential to Solar Photo Voltaic as an efficient energy option in the region,” said Mr 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, the company said.

According to Mr Rajeeva Swarup, Chairman and Managing Director, RREC, “The State will offer a ‘Single Window Service’ through the Bureau of Investment Promotion and make efforts to facilitate approvals required for the project from the Government agencies. Rajasthan offers significant opportunities for renewable energy projects and also has large natural resources conducive for setting up such non-conventional energy projects in the State.”

Moser Baer Photo Voltaic plans to emerge as a technology-driven PV equipment manufacturer in the world by implementing a capacity of 500 MW by fiscal 2010 through a mix of technologies in the crystalline silicon, concentrator and thin film domain.

The company’s photovoltaic equipment manufacturing capacities for crystalline silicon, concentrator and thin film technologies are coming up in a Special Economic Zone (SEZ) at Greater Noida.