Moser Baer to spend USD 1 billion on solar plants

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Moser Baer Clean Energy, the renewable energy vertical of Moser Baer India said it is investing USD 1 billion for setting up solar projects with a cumulative capacity of 300 MW in the country and abroad in the next nine months.

Ratul Puri, executive director, Moser Baer India said that, “We are well-funded right now, weraised around USD 1 billion in the last 12 months. We commissioned 100 MW in solar projects from April-September, 2011, and would add 300 MW more through solar in the next nine months.”

These projects would be set up in Gujarat, Orissa, West Bengal and Rajasthan in India, as well as abroad in countries like Germany, Italy, the UK.

Puri said that “It would be half and half, that is,150 MW projects in India and the same abroad.”

The company also has ambitious plans for augmenting its solar power generation capacity to 1 GW, or 1,000 MW, by 2015.

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