The Venture Intelligence Blog

Edited extracts from the press release: Moser Baer to raise $100 million in its wholly owned photovoltaic subsidiary • $100 million to be raised from a consortium led by IDFC Private Equity, consisting of GIC Special Investments, IDFC & CDC Group plc. • Proceeds to partially fund Moser Baer’s overall plans to expand photovoltaic (PV) capacity to 500MW by 2010 • A structured transaction to position the PV subsidiary for a potential IPO on an international exchange. New Delhi-based Moser Baer, India's largest and the world’s second largest optical storage media manufacturer announced today that it has received the approval of its Board of Directors to raise $100 million (Rs. 400 crores) in its wholly owned photovoltaic subsidiary. The investment will be made by a consortium of investors led by IDFC Private Equity, a private equity fund focused on the infrastructure space in India; together with GIC Special Investments, a private equity arm the Singapore's foreign reserves; C...

Businessworld has a cover story on alternative energy scene in India. Extract from the section on Wind Energy : For India, these wonder machines have already helped generate more power with each passing year — from 2,483 MW in March 2004 to 7,093 MW last March. In October 2005, India raced past Denmark to become the world’s fourth-largest producer of wind energy after Germany, the US and Spain. In 2006, India installed 1,840 MW of additional capacity. It is also way ahead of China, which will add 5,000 MW only by 2010. Asia, which generates 10,600 MW through wind alone, beat the rest of the world last year with 53 per cent growth in installed capacity. A global consolidation in the wind energy industry has also been taking place. As a result, 80 per cent of the world’s wind energy business is now cornered by top five players. Pune-based Rs 1,530 crore Suzlon Energy, India’s largest and the world’s fifth largest wind turbine maker, glides on a 52 per cent market share in the country. T...