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Moser Baer defers Chennai manufacturing facility plans
July 22, 2009 - Cleantech Group best of the web pick
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New Delhi, India-based Moser Baer Photo Voltaic, a subsidiary of optical storage device maker Moser Baer India, said today it is deferring plans to set up a manufacturing facility near Chennai, on the southeast coast of India.
The company signed a memorandum of understanding in 2008 to start a Rs 2,000 crore ($412.9 million) facility to manufacture silicon-based photovoltaic modules. But the Business Standard reports that the plan has been deferred due to liquidity constraints.
The company said that picking equipment partners and other negotiations were holding up the project, declining to comment about liquidity issues or the project’s schedule, which was expected to start in October.
The company has been allocated 120 acres and sought an additional 130 acres to expand the project in the future. The facility was expected to have the capacity to generate 500 megawatts (see Moser Baer India to start PV production). The company also has plans for a 65-MW tandem junction thin film line, adjacent to one built by its parent company Moser Baer India (BSE:MOSERBAER).
In February, Moser Baer India received approval from the Geneva-based International Electrotechnical Commission for its 40 MW thin-film line, clearing the path for the company to begin production. The production line in Greater Noida, India, is expected to produce thin-film single junction modules. The company signed $500 million in agreements for the line's products through 2012 with German-based companies Ralos Vertriebs and Colexon Energy in October 2008 (see Moser Baer India inks $500M thin-film deals).
Source:
Business Standard
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