ACME Cleantech Solutions, an energy generation, management and conservation company, today announced that it would partner French renewable energy major EDF Energies Nouvelles (EDF EN) to set up large scale solar projects in India.
EDF Energies Nouvelles is rolling out its operations in a new country offering strong potential, with a partnership with Indian company ACME Cleantech Solutions Limited to create a joint venture based in India. EDF Energies Nouvelles holds a 25% stake in the company, ACME Solar Energy Private Limited, which will focus on the development, construction and operation of solar power projects in India.
Based in New Delhi, Acme Solar Energy Private Limited is owned by three complementary partners:
- ACME Cleantech Solutions Limited, an Indian company with international operations specialising in new energy solutions, communications and environmental services, holds a 50% stake;
- EDF Energies Nouvelles, a major international player in renewable energy and photovoltaic solar power, holds 25%;
- EREN, the first group dedicated to saving natural resources, also holds 25% of the company.
Positioned primarily in the photovoltaic power market, ACME Solar Energy Private Limited has already begun construction of a 30 MW solar power plant in Madhya Pradesh in the centre of India and has a portfolio of 200 MW of projects at various stages of completion.
India presents considerable potential for EDF Energies Nouvelles to expand its solar energy operations. The country has a high level of sunshine and a recurring shortage of electricity generation. With current installed capacity of 2 GW, the country is aiming to achieve capacity of around 22 GW by 2022.
“This promising new partnership 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 support of a local company,” comments Antoine Cahuzac, Chief Executive Officer of EDF Energies Nouvelles.
India is the 18th country in which EDF Energies Nouvelles is developing its presence, and its first foothold in southern Asia.
About EDF Energies Nouvelles
Operating in Europe and North America, EDF Energies Nouvelles is a market leader in green electricity production, with a portfolio of 6,358MW of gross installed capacity. With a development focused on wind and solar photovoltaic energy, the Company recently entered new promising markets: Israel, Morocco, South Africa and Poland, and is expanding its business in offshore wind energy. The Company is also present in other segments of the renewable energy market: marine energy, biogas, biomass and small hydro as well as in distributed energies. EDF EN manages renewable energy projects’ development and construction as well as operation and maintenance for its own accord and for third parties. EDF Energies Nouvelles is a subsidiary of the EDF Group and its renewable energy arm.