Solar Semiconductor, a Hyderabad-based photovoltaic (PV) modules manufacturer, plans to raise $30 million by the end of this year. The company will preferably go for private equity and venture capital to raise the proposed amount, informed a top company executive. The money will be deployed mostly in acquiring firms in the US, Europe and India and will be partially utilised as working capital.
The company currently has a capacity of producing 200 MW photovoltaic modules, while it has produced around 120 MW this year.
The company will also start manufacturing PV module in its US plant this year.
Solar Semiconductor designs, manufactures and sells solar photovoltaic modules for industrial, commercial and public-utility customers worldwide. US based Sun Power is one of the major clients of Solar Semiconductor. It has production facilities in
Kompally and Fab City in Hyderabad.