Solar power equipment maker Moser Baer India (MBI) today said the Ministry of Renewable Energy has given a grant of Rs 7.1 crore to the company for development of a special kind of solar cell.
"MBI will conduct the development work from its corporate R&D facility at Greater Noida," MBI Group Chief Technology Officer G Rajeswaran told reporters here.
The fund would be used for development of Copper Indium Gallium Selenide (CIGS) solar cells, he said.
He added the total cost of the project is estimated at Rs 15 crore. The cell is likely to be ready in next two years.
Owing to its high efficiency and cost effectiveness, CIGS-based thin film solar cell technology is likely to emerge as one the most promosing solar cells, he said.
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