August 29, 2008

Tata BP Solar Targets $1 Billion Turnover By 2012, an Industrial Info News Alert

Researched by Industrial Info Resources (Sugar Land, Texas) -- Tata BP Solar India Limited (New Delhi, India), a joint venture of Tata Power (BOM:500400) (Mumbai) and BP Solar, a division of BP (NYSE:BP) (London), is India's leading player in the nonconventional energy sector. The company plans to increase its capacity to 300 megawatts (MW), with a target of becoming a $1 billion firm by 2012. As part of its expansion plans, Tata BP Solar has invested $100 million in the current fiscal year to manufacture 180 MW of solar cells and 125 MW of solar modules. Their existing capacity of solar photovoltaic cells can generate 52 MW of electricity. Calyon Bank (Paris, France) and BNP Paribas Bank (Paris) provided $78 million of funding for part of the 180-MW solar cell expansion project.

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SOURCE: Industrial Info Resources