Mumbai: Moser Baer Photo Voltaic Ltd., a unit of optical storage maker Moser Baer India Ltd, will invest $25-30 million in 2007-08 to double its solar photovoltaic cell capacity from 40 megawatt (MW) to 80 MW in the last quarter of the current fiscal.

The company plans to invest $250 million in the next three years as orders swelled in the first year itself.

"We are enthused by the response from Indian customers. The current capacity is totally sold out," chief executive Ravi Khanna said.

The photovoltaic unit has got commitments for orders worth more than $100 million from India and overseas including US, Europe and South Asia.

Moser Baer, meanwhile, has started shipments of solar photovoltaic cells.

"The way we are growing, by 2010 we will be a 500 MW company," Khanna said.

While the first two quarters are going to be ramp-up quarters, he said the company expects sale of $80-100 million in fiscal 2008.

Analysts expect the global photovoltaic market to grow six times to $40 billion by 2010, he pointed out.