• To set up capacities of 200 MW by 2009
• Enters into a technology partnership with Applied Materials, Inc., USA
• To invest over $250 mn over the next three years in thin film technology, the first large investment in the photovoltaic sector as per the recently announced IT policy
   

New Delhi – 05th March 2007: Moser Baer today announced that it will set up the world’s largest Thin Film solar fab to achieve new cost benchmarks. The company has entered into a technology partnership with the US based Applied Materials, Inc, the global leader in nano manufacturing technology solutions for the electronics industry. This enables Moser Baer to have a first mover advantage in the manufacture of large area Thin Film modules. 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. Photovoltaic modules based on large area Thin Film technology bring cost parity between solar generation and grid power. 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.
 

According to Mr. Ravi Khanna, CEO, Moser Baer Photo Voltaic, "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. "
 

Union Minister for Science & technology Mr. Kapil Sibal said, "Providing affordable renewable sources of energy is paramount in this century. In a high energy demand country like India with abundant sunlight, affordable photovoltaic generation will be key to sustaining our growth. The recently announced IT and semiconductor fab policy is a major step by the Government of India in providing a much needed impetus to this industry."
 

According to Dr. Mark Pinto, CTO of Applied Materials, Inc., "We are excited to have this contract from Moser Baer and look forward to working with them on implementing a technology roadmap for higher efficiency modules; their extensive experience in high volume manufacturing will be key to enabling cost reduction. India holds tremendous potential both as a worldwide hub for solar panel production and as an end market for photovoltaic electric power."
 

The technology partnership will enable a synergy between Moser Baer’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.
 

About Moser Baer India
Moser Baer, headquartered in New Delhi, India, was established in 1983. The Company has successfully developed cutting edge technologies for recordable optical media, constantly innovating and introducing new products and process. The company currently has over 5,000 full-time employees and has multiple manufacturing facilities in the suburbs of New Delhi, The company services it's customers through 6 marketing offices and subsidiaries/affiliates in India, the US, Europe and Japan. An emphasis on high quality products and services has enabled Moser Baer to emerge as one of India's leading technology companies, with more than 16.5% share of the global recordable optical media market and new initiatives in technology-lead sectors including Solar Photovoltaic energy and Home Entertainment.
 

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.
 

About Applied Materials, Inc
Applied Materials, Inc. is the global leader in Nanomanufacturing Technology solutions with a broad portfolio of innovative equipment, services and software products for the fabrication of semiconductor chips, flat panels, solar photovoltaic cells, flexible electronics and energy efficient glass. Applied Materials applies Nano manufacturing Technology to improve the way people live.
 

Disclaimer
Certain statements in this release concerning future growth prospects involve risks and uncertainties, especially those relating to future industry outlook and our ability to manage growth and intense competition within the Industry. Actual market conditions and our performance may differ from our guidance. This estimate is based on current market trends. Among other factors, a sharp and sustained strengthening of the Indian Rupee and a significant weakening in global demand could adversely impact the company’s earnings.