Acme Group has planned a 110 MW eSolar project in Gujarat along with 100 MW one in Madhya Pradesh and 5 MW factory in Maharashtra.
According to Manoj Kumar Upadhyay, Acme Groups founder, Acme is in agreement with eSolar that allows Acme to use eSolar’s solar technology to develop solar thermal projects in India. India’s new policies to promote renewable solar energy, namely their National solar Mission has introduced feed-in-tariffs and aid for functiong solar projects such as Acme Group’s.
The group has recenelty announced to begin the first half of 10 MW solar thermal plan taking advantage of technolody purchased from eSolar in Rajasthan which is scheduled to be commissioned early next year in Rajasthan. The eSolar has 5 MW solar power plant of similar technology in California. Acme Group currently holds a 5% stake in eSolar which they purchased for $30 million back in March.