Moser Baer’s solar arm to double staff

Moser Baer Photo Voltaic, a subsidiary of Delhi-based optical storage device maker Moser Baer India, plans to double the headcount this year for its manufacturing facility in Greater Noida, the company’s top official said, reports Ruchi Hajela.

Moser Baer Photo Voltaic (MBPV), a subsidiary of Delhi-based optical storage device maker Moser Baer India, plans to double the headcount this year for its manufacturing facility in Greater Noida, the company’s top official said.

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At present, the company employs about 600 workers at the facility, said Yogesh Mathur, group chief financial officer, Moser Baer. The company is also targeting to increase its manufacturing capacity from about 125 mega watts now to 300 mega watts over the next two quarters, Mathur added.

MBPV will invest about $1.5 billion in in three phases to develop its manufacturing facility in Chennai, and expects to generate up to 1,000 mega watts through its Greater Noida and Chennai facilities by the December, 2010.

“We plan to invest about $1.5 billion for the Chennai plant. We have some internal accruals and would raise debt and equity to fund the investment,” said Mathur.

The company has not raised any money for this so far. It expects construction for the plant to start by October this year and expects to generate about 500 megawatts of thin photo voltaic film by the end of financial year 2010.