New Delhi: Technology firm Moser Baer India today said its wholly-owned photovoltaic subsidiary has entered into definitive agreements with a consortium of global investors to raise Rs411 crore to fund its expansion plans.
The investors include Nomura, CDC Group, Credit Suisse, Morgan Stanley, IDFC Pe and IDFC.
The transaction values Moser Baer photovoltaic business at Rs6,350 crore.
Moser Baer plans to use the capital for expanding its capacity of crystalline silicon and thin film solar verticle.
The company currently has an annual capacity of 120 MW, including 40 MW of amorphous silicon film modules.
The fund would also be used for the expansion of crystalline silicon cell manufacturing to 180 MW and amorphous silicon thin film to 120 MW.