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ENERGY & UTILITIES | Renewables / Solar
acmesolar.in

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Stage

Line of Credit | Alive

Total Raised

$108M

Last Raised

$108M | 4 yrs ago

About ACME Solar Energy

ACME Solar Energy designs and implements photovoltaic solutions for a range of applications. These include large power projects integrated with grid networks.

ACME Solar Energy Headquarter Location

Plot No.152, Sector - 44, Haryana

Gurgaon, 122002,

India

Latest ACME Solar Energy News

IFC likely to lend $150m to ACME Jaipur Solar Energy

Aug 31, 2017

August 31, 2017 International Finance Corporation (IFC), the private sector investment arm of the World Bank, is considering investing up to $150 million in  ACME Jaipur Solar Power Pvt Ltd , part of the ACME Solar, for the construction of its Madhya Pradesh project. The total cost of the project is around $200 million. IFC will provide up to $50 million through subscription of non-convertible debentures (NCDs) and a loan of approximately $100 million from other lenders, it said in a disclosure. The project is expected to be commissioned by November 2018. The project involves the development, financing, construction, operation and maintenance of a 250MW solar photovoltaic plant by ACME Solar Holdings within the 750MW Rewa Ultra Mega Solar Park in the Rewa district of Madhya Pradesh. IFC had also lent $34 million to ACME Solar Energy for its 100 MW Rajasthan project in 2014. ACME Solar builds, owns and operates solar power plants in India. The company has an operating capacity of over 809 MW solar projects. ACME Solar plans to enter into engineering, procurement and construction (EPC) and operations and maintenance (O&M) agreements for the project with ACME Solar Holdings Ltd. Last month, Piramal Finance Ltd, a subsidiary of Piramal Enterprises Ltd, sanctioned an additional Rs 700 crore to renewable energy firm ACME Solar Holdings Ltd through its non-real estate lending arm Corporate Finance Group (CFG). Under the terms of the agreement, “IFC will be providing long tenor fixed rate local currency financing with a debt repayment profile that matches the cash flows of the project and the long-lived nature of the assets being financed.” IFC has been actively investing in renewable energy projects in India, which is targeting to generate 175 giga watts (GW) of renewable energy by 2022. Of this, 100GW is to come from solar power projects. Early this week, IFC announced an investment of up to $50 million for a renewable energy project of Solenergi Power Pvt Ltd. The solar energy space has seen a spate of investments. Most recently, Pennar Industries Ltd (PIL), a Hyderabad-based engineering company, agreed to sell a stake in its subsidiary Pennar Renewables Pvt. Ltd to Greenko Solar Energy Pvt. Ltd. French energy company Engie also in talks with the country’s largest roof manufacturer Everest Industries Ltd for a partnership for solar-ready roofs. In an another recent development, Singapore-based BlackRock Real Assets acquired a 90 per cent stake in a 200 MW/AC solar portfolio in Queensland, Australia from Edify Energy. Prior to that in July, global private equity giant Warburg Pincus invested $100 million in on-site rooftop solar power developer CleanMax Solar. Also Read:

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Expert Collections containing ACME Solar Energy

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

ACME Solar Energy is included in 1 Expert Collection, including Renewable Energy.

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Renewable Energy

3,866 items

This collection contains upstream and downstream solar companies, as well as those who manufacture and sell products that are powered by solar technology.

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