Tata BP Solar invests Rs 400 cr to make solar cells, modules
Press Trust of India, New Delhi, 26 Jun, 2008
Source: Economic Times of India
http://economictimes.indiatimes.com/News/News_By_Industry/Energy/
Tata_BP_Solar_invests_Rs_400_cr_to_make_solar_cells_modules/articleshow/3169219.cms
Tata BP Solar, a joint venture firm between Tata Power and BP solar, on Thursday said it has invested Rs 400 crore ($100 million) in the current fiscal to manufacture solar cells and modules. “We have invested Rs 400 crore to manufacture 180 MW of solar cells and 125 MW of solar modules in the current financial year (2008-09),” Chief Executive Officer K Subramanya told reporters here.
Tata BP Solar provides services to the Defence forces, states in the North East, Bihar, Jharkhand, Chhattisgarh, educational institutions like IIT Kanpur, IIT Delhi, IIM Bangalore and has also electrified 20 villages in Orissa. The company recently signed a Memorandum of Understanding with Tata Agrico for distributing solar products in the rural areas of the country. It is aimed at targeting consumers deprived of regular electricity supply.
With the crude oil prices heading northward the use of renewable sources of energy is the need of the hour, “High crude oil prices provide good business opportunity for companies like us,” Subramanya said. The company has made use of solar power in manufacturing telecom infrastructure for countries like Bhutan, Afghanistan, Pakistan etc. It has also exported products to countries in Western Europe and USA. The company is planning to work with real-estate developers DLF and Unitech to utilise its services for their townships. It is also looking for