Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Industry / Moser Baer gets export orders worth $500 mn
BackBack

Moser Baer gets export orders worth $500 mn

Moser Baer gets export orders worth $500 mn

Premium

Mumbai: Optical storage maker Moser Baer India Ltd said that it has got orders to supply solar modules to customers in Europe worth $500 million.

The customers include Germany’s system integration firm Ralos Vertriebs and Colexon Energy.

Under the agreements Moser Baer’s unit PV Technologies India Ltd will supply amorphous silicon thin film panels up to 2012.

“The agreement terms include fixed price take or pay obligations secured by bank guarantees," it said in a statement.

“Moser Baer is following a differentiated strategy in this high growth business and we are poised to be a global leader in solar PV (photo voltaics)," CEO of Moser Baer Photovoltaic Ltd, Ravi Khanna said.

Recently the company had announced raising $93.5 million through a consortium of private equity investors to fund its solar panels business.

Moser Baer Photovoltaic and PV Technologies make solar cells and modules.

Shares in Moser Baer were trading up 7.2% at Rs116.8 on the Bombay Stock Exchange (BSE), which was up 1.5%.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 01 Oct 2008, 12:49 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App