“EDF EN, the renewable energy arm of French state-run electricity utility Électricité de France S.A., and natural resources saving group EREN, will acquire 25 per cent each in ACME Solar to set up large scale solar projects in India,’’ an official statement by ACME Cleantech Solutions said here. ACME Solar will thus be a joint venture between ACME Cleantech, EDF EN and EREN. At present, ACME Cleantech has a 17.5 MW of solar generation capacity.
The company is developing a 25-MW project in Madhya Pradesh and another 25 MW in Odisha.
The joint venture plans to set up an initial portfolio of 200 MW of solar power projects in various phases.
“We believe EDF EN & EREN partnership will help us scale solar energy generation, and play an important role in the renewal sector,’’ Manoj Kumar Upadhyay, Chairman, ACME Cleantech said in the statement.
EDF EN CEO Antoine Cahuzac said the new partnership would establish themselves in the solar power market in a country with high level of demand for renewable energy.