Moser Baer Photo Voltaic (MBPV), a subsidiary of Moser Baer India, has
reportedly put its plans for the construction of its Chennai plant in Tamil Nadu
on hold due to global financial crunch and production mismatch.
Earlier, MBPV was planning to commence construction from October 2009 with
power production from the next fiscal. It was reportedly in talks with different
vendors on equipment prices, and agreement on the same was expected in April
2009.
The company was planning to invest up to $1.5 billion (approx Rs 7,305 crore)
in the Chennai plant over the next three years to ramp up capacity to make solar
photovoltaic cells and modules to generate electricity of 1,000 MW by the
end-December 2010. The company was planning to develop the plant in three phases
with investment of $500 (approx Rs 235 crore) in each phase.
Also See:
Moser Baer
Photo Voltaic's plans may defer (26-May-09)
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