In a bid to expand its presence in the US market, Moser Baer Solar, a subsidiary of Moser Baer has entered into a distribution pact with Munro Distributing Company. Munro, with 11 locations in four states in the East and West coast, will offer Moser Baer Solar’s multi crystalline silicon solar modules and utilize them to design commercial turnkey solar PV systems for its customers.
Munro Distributing is currently one of the major players in the US offering a variety of services and products in energy efficient lighting and power distribution.
The current agreement is in line with the vision of Moser Baer Solar to further penetrate the emerging markets. According to the European Photovoltaic Industry Association, globally there was been as increase of about 16 gigawatts (GW) of new solar photovoltaic installations in 2010 and US accounted for only 0.8 GW of this growth. Significantly, the US market is likely to grow from 1GW in 2010 to 3GW in 2012.
Moser Baer reported a loss of Rs 131.20 crore as compared to the net profit of Rs 6.30 crore for the corresponding quarter previous year. Its net sales/income from operations decreased 21.23% at Rs 458.95 crore for the quarter under review from Rs 582.64 crore in the corresponding previous quarter.
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