Maharishi to acquire tech from German co

Written by BV Mahalakshmi | Hyderabad | Updated: Nov 13 2009, 05:08am hrs
Maharishi Renewable Energy Ltd (MREL), part of $700 million Maharishi group, is likely to acquire a technology from a German-based company which is required to set up a solar thermal power plant. It is in the final stage of this technology acquisition and would be bringing in newer technologies in solar thermal and photovoltaic and customise it for the Indian conditions.

Talking to FE, MREL CEO Pradeep Khanna said the negotiations are expected to crystalise in the next four weeks. When materialised, it is expected to be the first solar thermal plant in industrial applications, having a capacity of 3 mw with storage. The plant, which is being constructed with an investment of Rs 70 crore, is coming up in Rajasthan and would be fully operational in the next two years.

According to Khanna, it would be the first Indian company to manufacture silicon with internally developed technology and also deliver low-cost solar thermal power generation in the world. Incidentally, the company has partnered with Abengoa Solar Inc, which has developed an expertise in this space, to bring in solar technology solutions.