ACME Solar today said it would develop 30 MW solar power projects in Chhattisgarh. “This would entail an estimated investment of USD 40 million/Rs 240 crore,” the company said in a statement As per the terms and conditions of the bidding document, the selected
developer would sign 25-year long power purchase agreement with the
Chhattisgarh State Power Distribution Company Ltd (CSPDCL) on the
uniform tariff submitted in the bid.
ACME Solar is a three-way joint venture between ACME Cleantech
Solutions Ltd, EDF Energies Nouvelles (EDF EN) — the renewable energy
arm of French state-run electricity utility Electricite de France SA —
and Luxembourg-based natural resources saving group EREN. “This contract was won in a fierce tariff-based competition among 16
developers of international fame… With this addition, our solar power
portfolio has reached 180 MW and we are on way to generate 1,000 MW by
year 2017,” ACME Solar’s CEO Manoj Kumar Upadhyay said.
Source: Economics Times
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