The company said its wholly owned subsidiary, PV Technologies India Limited, has signed a Memorandum of Understanding (MoU) with an unnamed global equipment supplier to secure supply of equipment for a 565MW-phased expansion of its thin film PV modules manufacturing capacity.
CEO Ravi Khanna said: “Leaders in the PV industry will continue to emerge on the strengths of rapid scale up and technology differentiation. 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 area.”
Thin film solar modules are ideal for energy farms, rural applications and building integrated photovoltaic markets. PV modules based on large area thin film technology provide a path to cost parity between solar generation and grid power.
According to market estimates, demand for the modules, which will have wide applications, could grow from 250 MW now to 2GW with a market value of $5 billion by 2010.
Established in 1983, New Delhi-based Moser Baer is a leading technology company and the world’s second largest manufacturer of optical storage media like CDs and DVDs.
Recently, the company has begun diversifying into new businesses like solar energy, entertainment, IT peripherals and consumer electronics.
Through its wholly owned subsidiaries, the company manufactures photovoltaic cells and modules by straddling multiple technologies including crystalline silicon, concentrator, nano technologies and thin films.