Moser Baer says solar mainstay for growth

India's second-largest solar cell manufacturer Moser Baer India expects solar power business to chip in about two-thirds of its total sales in the next two to three years, as it looks to strengthen its position in the lucrative Indian solar market, its founder and chairman said on Wednesday.

Moser Baer, a leading player in the solar energy space along with Tata BP Solar, has also been in advanced talks with several foreign players for a tie-up and is looking to buy thin-film manufacturing lines with capacity of 80-100 mega watts, Deepak Puri told the Reuters Global Energy and Climate Summit by phone.

Moser Baer's solar unit, which is evaluating an initial public offering, may file for an IPO in late 2011 or early next year, Puri said.

The world's second-biggest maker of optical storage media is seeing a decline in its core business with the rise of the internet and easier availability of data hitting its profits.