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Titan Energy Systems, a manufacturer and exporter of solar photo voltaic (SPV) modules, is in taks with leading private equity firms and other financial institutions to raise $ 140 million (around Rs 555 crore)
The amount, to be raised through a mix of debt and equity, will fund its upcoming project in the near Hyderabad.
The proposed funds are meant for the 100 MW capacity phase one solar cell manufacturing plant, which the company proposes to build in 9-12 months, once the financial closure is over.
The phase one project involves a capital expenditure of over $ 80 million(around Rs 320 crore) on equipment alone. The proposed solar cell project is part of the companys plan to develop a complete value chain in PV portfolio to gain a better foothold in the export market.
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| Posted : 2/27/2008 |
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