Moser Baer to set up thin film solar fab

New Delhi

March 6, 2007

Moser Baer India announced that it would set up the world's largest thin film
solar fab to achieve new cost benchmarks. It has entered into a technology
partnership with US-based Applied Materials Inc, a provider of nano
manufacturing technology solutions for the electronics industry.

Ravi Khanna, CEO, Moser Baer Photo Voltaic, said, "Leaders in the
photovoltaic industry will emerge on the strengths of rapid scale up and
technology differentiation. We believe that Moser Baer With its experience in
deposition technology and high tech manufacturing is poised to emerge as a
global leader in this rapidly growing market."

The technology partnership will enable a synergy between the company's
manufacturing and technology strength, its European R&D lab and Applied
Material Inc's process and equipment development expertise. The combined
capabilities bring scale economies to this industry by manufacturing thin film
modules that are four times larger than current modules, making it a disruptive
technology that provides a road map to sub-dollar per watt costs.

This investment should qualify for government incentives under the recently
announced IT and semiconductor policy. Thin film solar modules are ideal for
energy farms, rural applications and building integrated photovoltaic markets.
According to market estimates, the thin film based solar modules will see large
emerging applications and a robust demand that is expected to grow ten fold;
from 250 MW currently to 2GW with a market size of $5 bn by 2010.