Moser Baer Projects Pvt. Ltd. plans to list its solar power unit Moser Baer Clean Energy in the next financial year to raise funds for its solar power projects.
“We are operating different energy verticals,” said Moser Baer Chairman Ratul Puri on Thursday. “We are basically planning to tap the potential of the renewable energy segment.”
He said the company plans to set up about 400 megawatt of solar power projects in the current financial year, which is expected to cost about 60 billion rupees ($1.34 billion).
In January, SBI Macquarie Infrastructure Management Pvt. Ltd. said it would invest $129 million in a thermal power unit of Moser Baer Projects Pvt. Ltd. in a bid to benefit from the massive capacity additions in India’s rapidly growing energy sector.
New Delhi-based Moser Baer Projects sets up coal-based, solar and hydroelectric power projects and plans to reach a power generation capacity of 5,000 MW by 2014.