• To acquire 40% equity stake from Solarvalue AG
• The acquisition to give assured supply of solar grade silicon wafers
   

New Delhi –30th March, 2007:
Moser Baer Photo Voltaic (MBPV), a wholly owned subsidiary of Moser Baer India (MBI), today announced that it has acquired a 40% strategic equity stake in the Slovenia-based Solarvalue Proizvodnja d.d. MBPV will acquire equity from the Germany based Solarvalue AG which currently owns 100% in the Slovenian company.
 

Given the global demand supply imbalance of silicon, the acquisition will help MBPV to have an assured supply of high grade solar grade silicon and aid in its objective of becoming a significant player in the photovoltaic space. Solarvalue Proizvodnja d.d plans to set up a capacity of 4,400 tonnes of solar grade silicon by end 2008.
 

According to Ravi Khanna, CEO, MBPV, “The acquisition is part of our objectives to access high quality solar grade silicon at competitive pricing. Moreover, this is a significant step for us as we can leverage the benefits of the deal to achieve leadership position in the industry. Also it meets Solarvalue’s long term goals to emerge as the leading producers of solar grade silicon and we will help it to augment its silicon production plant capabilities in Ruse, Slovenia”
 

“It is a win-win situation for Solarvalue and Moser Baer as both these companies can now have a presence in the entire PV value chain”, said Claudia Boehringer, CEO, Solarvalue AG. She further added “The short term production goals and the next steps for the refurbishment remain the same. The long-time experience of Moser Baer in commercializing technology and rapid scale up will foster our position in the global PV market.”
 

Solarvalue Proizvodnja d.d plans to set up a capacity of 4,400 tonnes of solar grade silicon by end 2008. The first phase of the 80MW crystalline silicon plant of MBPV has already commenced trial production and is well on its way to commence commercial production in April ’07. The company plans to clearly straddle multiple future technologies and emerge as an engineering & technology driven company. MBPV is moving towards technological leadership in this high growth industry and developing a sustainable competitive edge by investing into disruptive technologies.
 

About Moser Baer Photo Voltaic Limited
Moser Baer Photo Voltaic incorporated in New Delhi, a wholly owned subsidiary of Moser Baer India Ltd, in the business of photovoltaic (PV) cells and modules. MBPV plans to manufacture solar cells and modules by straddling multiple technologies including crystalline silicon, concentration, nano technology and thin films. The manufacturing facilities are housed in a renewable energy SEZ at Greater Noida. The parent company Moser Baer India Limited is the second largest manufacturer of optical storage media in the world having five state of the art facilities at Noida and Greater Noida. MBI reported revenues of over Rs 1700 cr in FY06. For more details, please log on to www.moserbaerpv.in and www.moserbaer.in
 

About Solarvalue AG
Solarvalue AG was established in June 2005 by Dr. Karoly Horvath. The initial purpose of the company is the manufacture of solar grade silicon with its Solarvalue Proizvodnja d.d. at the TDR facility in Ruse, Slovenia. The long-term goal is the development of the entire value chain of an integrated PV enterprise. For more details, log on to www.solar-consulting.de.