Month: November 2007

Moser Baer Photo Voltaic (MBPV), a wholly owned subsidiary of Moser Baer India just a while ago told us that it has signed a memorandum of understanding with the Government of Rajasthan for setting up of a large solar power project in the State with an estimated generation capacity of 1 – 5 MW. The project will be the largest grid-connected solar farm in India and entail an investment of around US $ 25 million (Rs 100 crores) at US $ 4.5 million per MW.

Clean Energy is the order of the day and even Internet Giants like Google have ventured into renewable Energy & Power. Google is already known for giving hefty discounts to its employees who drive Totyota Hybrid cars.

Moser Baer is also evaluating various options for setting up large sized solar farms across the SAARC region with strategic tie ups with some of the leading global solar PV companies and clean energy funds. Moser Baer Photo Voltaic plans to emerge as a leading technology driven PV equipment manufacturer in the world by implementing a capacity of 500 MW by FY10 through a mix of technologies in the crystalline silicon, concentrator and thin film domain. The company’s photovoltaic equipment manufacturing capacities for crystalline silicon, concentrator and thin film technologies are coming up in an SEZ in Greater Noida.

Tata Steel has informed us that Riversdale Mining and the company have signed an agreement to establish a special purpose joint venture vehicle to develop a hard coking and thermal coal project at key coal exploration tenements held by Riversdale in Mozambique. Mozambique is fast-becoming a region of global significance for the coal sector.

Under the terms of the agreement, Tata will pay AUD100 million (approximately US $ 88.2 million) to acquire a 35% Project Interest. For this consideration, Tata secures a key position in the joint venture formed to develop the Mozambique coal project, as well as a 40% share of the off-take for coking coal.

Tata will also have the option to participate above this level of tonnage, and may participate with Riversdale in future opportunities on Riversdale’s surrounding tenements. The joint venture comprises two licences and covers an area of 24,960 hectares. Riversdale Mining holds a total acreage of over 290,000 hectares in Mozambique.

Close to 15,000 acres would be released in Mumbai for development following the repeal of Urban Land Ceiling and Regulation Act. The bill for the repeal of Urban Land Ceiling and Regulation Act (ULCRA) had been on the agenda of the state legislature for the last two sessions. In April this year, the Maharashtra government moved a resolution to repeal ULCRA on the last day of the Assembly session.

Shree Ram Urban Infrastructure (up 10.38% to Rs 395), Anant Raj Industries (up 12.89% to Rs 359), Housing Development & Infrastructure (up 5.11% to Rs 798.80), Peninsula Land (up 5.22% to Rs 133), Unitech (up 5.24% to Rs 378.25), Bombay Dyeing & Manufacturing Company (up 4.38% to Rs 697), Phoenix Mills (up 3.45% to Rs 2,300) and DLF (up 1.65% to Rs 894) edged higher.