Tata BP Solar, which specialises in solar photovoltaics, has signed an agreement with Calyon Bank (Credit Agricole CIB) and BNP Paribas to raise a $78 million debt to fund its 128 mw solar cell expansion project in the city. According to the company, the present production capacity is 50 mw per annum. Tata BP Solar, a Tata Power and BP Solar joint venture, has been supplying products and solutions to Indian and global markets. "During 2006-07, Tata BP Solar saw Rs 669 crore in sales revenue and may exceed the Rs 850 crore mark during 2007-08,' said Tata BP Solar Chairman Syamal Gupta. He said India's solar market consumes about 1 per cent of the world's photovoltaic products. "The total domestic installed photovoltaic capacity is in excess of 100 mw cumulative. Most of the photovoltaics used in India are for off-grid applications. However, there is an increasing interest in on-grid applications, as well as high tech applications for various sectors, including telecommunications and the