Moser Baer Clean Energy gets Rs 300 cr investment from GE

IT and electronics product maker Moser Baer's Italian subsidiary Moser Baer Clean Energy and GE would set up a solar power project at Sardinia in Italy, which would generate up to 90 jobs.

New Delhi: IT and electronics product maker Moser Baer's Italian subsidiary Moser Baer Clean Energy and GE would set up a solar power project at Sardinia in Italy, which would generate up to 90 jobs.
 
"Moser Baer Clean Energy gets an investment of Rs 300 crore from a unit of GE that will help to tap the solar energy as to grow crops while generating electricity also," the company said in a statement.
 
The first phase of the project will have 20 MW capacity.  

With its greenhouse operations, the project will support employment and agriculture by adding up to 90 jobs, the statement added.
     
The total project's 20 MW will generate enough electricity to power approximately 10,000 Italian homes, and it will avoid more than 25,000 tonnes of carbon emissions every year from coal- and oil-fired power plants.
 
"With these projects, MBCEL expects to have an operating capacity of 100 MW power of Solar Plants by the end October, 2011," Ratul Puri, Chairman of Moser Baer Projects Private Limited (MBPPL) said.
 
The greenhouse, will help Italy achieve its target of generating 23,000 MW from the sun by 2016.

PTI