Acme teams with EDF Energies Nouvelles & EREN Foray

Acme Cleantech Solutions Ltd, an integrated energy generation, management and conservation company, today announced that it would partner French renewable energy major EDF Energies Nouvelles (EDF EN), the renewable energy arm of state-run electricity utility Électricité de France S.A., and natural resources saving group EREN, who will acquire 25% each in Acme Solar Energy Private Ltd (Acme Solar) to set up large scale solar projects in India.

Acme Solar, will thus be a joint venture between Acme Cleantech, EDF Energies Nouvelles and EREN. Acme Cleantech, with a current capacity of 17.5 MW of solar generation, is committed to creating credible solutions for the growth of the solar sector in India and thus, expects to be at the forefront of the solar revolution in the country. Acme Solar is currently 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.

“India needs to add huge energy generation capacity to meet its growing demand. Solar is the most promising alternate source of energy because of availability of more than 300 sunny days a year. India can learn from other countries that energy generation without considering environment may create pollution hazards. Using solar, nation can achieve energy security, climatic commitment & meet energy demand of growing economy. Last few years cost reduction in solar & cost increase in conventional power has shown significant potential for solar to compete with grid. We believe EDF EN & EREN partnership will help us to scale solar energy generation & play important role in renewal sector”, said Mr. Manoj Kumar Upadhyay, Chairman, Acme Cleantech.

“This promising new partnership with Acme Group a renowned Indian energy company,  constitutes a wonderful opportunity for EDF Energies Nouvelles. It will enable us to establish our position in the solar power market in a country with a high level of demand for renewable energy and presenting considerable potential in terms of resources, with the key support of a local company,” comments Antoine Cahuzac, Chief Executive Officer of EDF EN.

EDF EN will bring in to India its expertise as a world leader in the field of renewable energy. It will also give Acme Solar an access to EDF EN’s proven engineering expertise, leading technology partners, world class research and development facility in France, where EDF EN and Acme Solar will be jointly conducting research as how to lower the costs of solar power generation. EREN will bring in its experience and expertise in project financing, developing and structuring solar projects. It will give Acme Solar an access to PV modules and other products of world class standards. Acme on its part, will be offering its exemplary project execution skills to ensure timely completion of the large scale projects. It has a proven track record in developing, constructing and operating MW scale of power projects. It has pioneered solar power development in India and has commissioned the first solar thermal power project based on Tower technology in Asia.

This partnership also marks the entry of renewable energy leader EDF EN and EREN in India. EDF EN enjoys a market leadership in Europe and North America. The company has a portfolio of 6,538 mw in gross installed capacity of green electricity generation including both: solar and wind. EREN is active in solar and wind energy in France, Greece, Italy and Israel. 

India is considered as an ideal location for solar power generation thanks to its location in the equatorial sun belt of the earth, thereby receiving abundant radiant energy from the sun. Clear sunny weather is experienced 250 to 300 days a year in most parts of India. The annual global radiation varies from 1600 to 2200 kWh/m2, which is comparable with radiation received in the tropical and sub-tropical regions. It has been observed that the highest amount of global radiation has been received in Rajasthan, Northern Gujarat, parts of Assam, Andhra Pradesh, Maharashtra and Ladakh compared to many parts of the world especially Japan, Europe and the United States. With current installed capacity of 2 GW, the country is aiming to achieve capacity of around 22 GW by 2022.