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First co to tap benefits under new chip policy

NEW BUSINESS FORAY: (From left) Mr Kapil Sibal, Minister for Science and Technology; Mr Deepak Opuri, CMD, Moser Baer; and Mr.Mark Pinto, CTO, Applied Materials Inc. US, at a press conference in the Capital on Monday. - Kamal Narang

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New Delhi, March 5 Technology major Moser Baer on Monday announced plans to set up a thin film solar fab with an investment of $250 million over the next three years. Moser Baer is the first company in the photovoltaic sector to take benefit of the recently announced semi conductor policy. The fab, which the company claimed would be the largest in the world, will be set up in the Noida Special Economic Zone.

Thin film solar modules are ideal for energy farms, rural applications and photovoltaic markets. Thin Film technology brings cost parity between solar generation and grid power. According to market estimates, the thin film based solar modules will see large emerging applications and a robust demand that is expected to grow ten fold; from 250 MW currently to 2GW with a market size of $5 bn by 2010.

Tech partner

Moser Baer plans to set up capacities of 200 MW by 2009. The company has entered into a technology partnership with the US-based Applied Materials Inc, which has expertise in nano manufacturing technology solutions for the electronics industry.

The unit would be commercially operational by March 2008. "The company will start with a capacity of 40 MW. With this initial capacity, we are expecting a turnover of over $100 million annually. We would focus on the global market to sell our products," said Mr Y.B. Mathur, Chief Financial Officer, Moser Baer Voltaic. Moser Baer would fund the project through a subsidiary with a mix of equity and debt. Equity component would be in the region of $40-50 million from the company.

The Union Minister for Science and Technology, Mr Kapil Sibal, said, "In a high energy demand country like India with abundant sunlight, affordable photovoltaic generation will be key to sustaining growth. The recently announced IT and semiconductor fab policy is a major step by the Government in providing a much-needed impetus to this industry."

Dr Mark Pinto, CTO of Applied Materials, Inc. said, "India holds tremendous potential both as a worldwide hub for solar panel production and as an end market for photovoltaic electric power."

The technology partnership will enable a synergy between Moser Baer's manufacturing and technology strength, its European R&D lab and Applied Material Inc.'s process and equipment development expertise. "The combined capabilities bring scale economies to this industry by manufacturing thin film modules that are four times larger than current modules, making it a disruptive technology that provides a road map to sub-dollar per watt costs," said a press release.

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