The Hindu Business Line : Environ Energy plans polysilicon project

Joining hands: Mr Jyoti Poddar (left), Managing Director, Bhaskar Silicon Ltd, and Mr Hans Authenreith (right), Centrotherm, Germany, exchange documents of an MoU in the presence of Mr Nirupam Sen, West Bengal Minister for Industry and Commerce, in Kolkata on Thursday. —

Our Bureau

Kolkata, Aug. 21 The Jyoti Poddar-controlled Environ Energy group on Thursday announced plans to set up the country’s first integrated polysilicon solar project at Haldia.

The Rs 5,500-crore project will be undertaken by Bhaskar Silicon Ltd, an SPV of the Singapore-based group.

International technology giants such as Perseus of USA and Centrotherm may pick up participatory stakes in the project. The Rs 250-crore Environ Energy group offers complete solar solutions. It acquired the Renewable (Solar) business of Shell Overseas Investments BV in India and Sri Lanka for an undisclosed sum in 2007.

Polycrystalline silicon or polysilicon is a material consisting of multiple small silicon crystals and is used in making the silicon wafers, the prime component in a solar cell or panel which generates solar power. Ultra-pure polysilicon is used in the semiconductor industry.

“The integrated complex is set up as part of our backward integration of our existing solar solution business. Also the complex will be designed in a manner so that we may foray into manufacturing polysilicon for the semiconductor industry,” Mr Jyoti Poddar told newspersons at a press conference here.

The company has acquired 200 acres at Haldia and will acquire an additional 600 acres in phases.

He said that the project is designed to manufacture right from polysilicon to solar cells capable of generating 250 MW solar power every year. In phase-I, the company will invest Rs 350 crore to start manufacturing solar cells based on imported wafers by July-August 2009.

The 2500-tonne polysilicon capacity would be commissioned by October 2009 at a total investment of Rs 2,500 crore followed by wafer manufacturing capacity in 2011. The project will also include a 400 MW captive power plant

Funding

While Srei Infrastructure is currently tying up finances for achieving financial closure, Mr Poddar said that international financial institutions like KFW and DEG were expected to invest in the project. Srei has confirmed picking up stake in Bhaskar Silicon.

“We do not foresee any problem in raising funds for the project. We are also planning to come out with an IPO of Bhaskar Silicon in India and abroad sometime next year,” he said.

The group flagship Environ Energy planned listing in the Singapore exchange early this year, which was was postponed due to the market uncertainties.

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