New Delhi: ACME Cleantech Solutions Ltd, a green technology solutions provider, has entered into a joint venture with French renewable energy company EDF Energies Nouvelles and natural resources saving group EREN, to set up solar projects in India.
The two firms will acquire 25 per cent each in ACME Solar Energy Pvt Ltd (ACME Solar), the joint venture company, which plans to set up an initial portfolio of 200 MW of solar projects in various phases.
EDF Energies is the renewable energy arm of France’s state-run electricity utility Électricité.
ACME Cleantech has a current capacity of 17.5 MW of solar generation. The joint venture is currently developing two projects of 25 MW each in Madhya Pradesh and Odisha.
EDF Energies will give ACME Solar access to its engineering expertise, leading technology partners and the research and development facility in France, where both will jointly conduct research to lower the costs of solar power generation, a statement said.
EREN will bring in its experience and expertise in project financing, developing and structuring solar projects, it added.
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