International Finance Corporation (IFC), the private equity arm of the World Bank, will invest $22.5 million (Rs 91.71 crore) in Moser Baer Photo Voltaic (MBPV), a subsidiary of Moser Baer.
IFC would be investing the amount in an export oriented solar photovoltaic (PV) cell and module manufacturing facility, being set up by MBPV.The facility, which would have an installed capacity of 80MW, is estimated at $92 million including an initial outlay of $58 million, as per information available on the IFC website.
The said project site is located in a special economic zone, adjacent to Moser Baer's existing plant in an industrial estate in Noida, Uttar Pradesh.During the quarter ended March 31, IFC held over one crore shares, representing 9.76% in Moser Baer India.
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