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August 19, 2010Moser Baer Does not have a Great Track Record
Blackstone Group has made a $300 million investment in Moser Baer Projects which is a private unlisted subsidiary of Moser Baer.Note Moser Baer is one of the biggest optical disk players in the world and has been constantly churning out losses in the last 2-3 years.It made a huge bet on Solar Energy in 2008 investing haphazardly into all sorts of technology and different parts of the Supply China.Can’t say the venture proved to much of a success as it continues to bleed red ink.Its was one of the earliest customers of Applied Materials SunFab Amorphous Silicon Thin Film Equipment.That Division has been closed and Moser Baer’s investment has been written off as well.It also invested in a small polysilicon producer which also closed down.With the Chinese module makers giving even the top US and European companies a run of the money,Moser Baer has found it difficult to compete on the world stage.It has been given a new lease of life by India’s ambitious Solar Energy Mission.The domestic content requirement will give some breathing space to Moser Baer’s Solar Division.
A Rising Tide Lifts All Boats
Moser Baer started a new Electricity Power Development company with ambitious plans.It is investing in setting up 4000 MW of coal plants and 1000 MW of assorted Hydro and Solar Plants.This company also does consultancy and coal mining according to its website.Now Blackstone has decided to gamble on India’s Power Deficit Story by investing $300 million for an undisclosed stake in the company.With investment plans of $6.5 billion and parent company sinking under loads of debt,Moser Baer Projects desperately needed equity which has been provided by Blackstone.Its previous track record in Solar and Optical Media does not inspire a lot of confidence.But India’s 8-9% Growth Rate is like a Rising Tide which will lift all sorts of Boats.Blackstone is perhaps gambling more on that rather than on Moser Baer.
Blackstone to invest $300 mn in Moser Baer Projects – LiveMint
US private equity firm Blackstone Group has agreed to invest $300 million, or Rs1,350 crore, in unlisted energy firm Moser Baer Projects Pvt Ltd, the two companies said on Wednesday. Blackstone will pick up a “significant minority stake” in Moser Baer Projects, Blackstone India chief Akhil Gupta told a news conference.
Last month, Blackstone had agreed to invest $59 million for a 12.5% stake in power producer Monnet Power Company Ltd, a wholly owned unit of India’s Monnet Ispat & Energy.
Moser Baer Projects needs to spend Rs30,000 crore to build 5000 mw power plants, comprising 4000 mw of thermal, 500 mw of hydel and 500 mw of solar, by 2016, chief financial officer Sushil Bhagat said.
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[…] successfully in its plans.Despite pouring millions of dollars into different parts of solar energy,Moser Baer has failed to make a mark even domestically leave alone globally.However India’s JNNSM has given a fresh lease of life to Moser […]
We – DLR CORPORATION, BANGALORE, would like to offer 250 MW Solar Power Project, having PPA/ Commitment letters from Private Bulk Buyers/ 1000 Acres of land & all Approvals/ Sanctions, Clearances, Permissions looking for a Reputed JV Partner / Investment Partner.We are in talks with Japanese Machinery suppliers-cum-Investors. If interested, MOSER BAER TO CONTACT: