Switzerland's Meyer Burger bets on Indian solar energy sector

Buoyed by Narendra Modi-led government's thrust on renewable energy, Swiss technology major Meyer Burger expects to tap opportunities worth billions of dollars in the Indian solar market.

Meyer Burger is a photovoltaic technology supplier and offers manufacturing processes for wafers, solar cells and solar modules, among others.

"We are very bullish and are really committed to the Indian market.. (We want to) enable the Indian market to produce own PV modules," Meyer Burger Technology AG CEO Peter Pauli told PTI.

In India, the group focuses on solar technology and product solutions along the photovoltaic value chain.

Prime Minister Narendra Modi-led government has unveiled ambitious plans for the renewable energy sector and is looking to have 1,00,000 MW solar power generation capacity by 2022.

When asked whether the company is eyeing opportunities worth billions of dollars in the Indian solar market, Pauli replied in the affirmative.

Specific investment details were not disclosed.

"India has a big chance to make a change in its energy mix and to (make) the right decisions. I think with the new government you have the best ground to develop them," Pauli said.

In India, the company, in due course, would look at locally sourcing some percentage of content required for its technology solutions, he added.

According to him, the ground situation is changing with increasing fab utilisation being seen in recent times.

"The ground situation has changed and that you can see from the fab utilisation by existing players, a small community. They have seen 30-40% utilisation in the last few years and now they are up to 70% utilisation," Pauli said.