Moser Baer India will invest about USD 1.5 billion for increasing its solar power generation capacity, reports Economic Times.

The money will be used to pump up its thin-film photovoltaic capacity to 600 mega watt (MW) over the next two years from the existing project capacity of 40 MW

A subsidiary of the company has signed a memorandum of understanding (MoU) with a leading US-based equipment supplier to secure supply of critical equipment.

The proposed capacity expansion will take place at Moser Baer`s manufacturing facilities at Greater Noida and Chennai. The USD 1.5 billion thin film expansion plan will be financed through a mix of debt and equity.

Shares of the company ended flat at Rs 189.15. The total volume of shares traded was 92,999 at the BSE. (Friday)