India’s Moser Baer Clean Energy is preparing to invest US$1 billion in installing projects totalling 300MW in 2012. Half of these developments will be in the Indian states of Gujarat, Orissa, West Bengal and Rajasthan, while the other half will be in overseas markets such as Germany, Italy and the UK.
“We are well funded right now,” Moser Baer India executive director Ratul Puri said. “We raised around US$1 billion in the last 12 months. We commissioned 100MW in solar projects from April to September in 2011, and will add 300MW more through solar in the next nine months.”
The investment is part of Moser Baer’s ambitious plan to expand its global pipeline to 1GW by 2015; this year it has already installed a 30MW system in Gujarat – India’s largest completed project – and a 24MW solar farm in Germany.