Greentech Media: Moser Baer, a New Delhi-based technology and data storage manufacturing company, announced on Monday that it plans to inject a massive $1.5 billion investment in subsidiary company PV Technologies Limited India, which produces thin film photovoltaic modules.
The money will be used to increase production capacity of thin film by a whopping 565 megawatts by 2010. When paired with the manufacturer’s current production level of 40 megawatts, Moser Baer will be able to produce more than 600 megawatts, making the plant one of the largest thin-film manufacturers in the world.
Moser Baer also said that it signed an agreement with “a leading U.S-based equipment supplier” to carry out the expansion, but did not specify the actual company that would be collecting the $1.5 billion. “We see an increasingly significant role for thin film technologies in meeting peaking power requirements and now aim to be a significant player in this arena,” said Ravi Khanna, the CEO of PV Technologies India Limited, in a statement….