ACME Solar Energy (Madhya Pradesh) Private Limited

active

ACME Solar Energy (Madhya Pradesh) Private Limited (ASEMPPL), a subsidiary of Acme Solar Private Limited, was establishing a 25 MW Solar PV project in Rajgarh district of Madhya Pradesh.ACME Solar was a SPV established by ACME Cleantech Solutions (50%), EDF Energies Nouvelles (25%), and Société Internationale d’Investissements Financiers ENR (SIIF ENR -25%) to develop solar projects across India. In October 2012, ASEMPPL had entered into a 25-year power purchase agreement (“PPA”) with MP Power Management Company and is estimated to supply 50 GWh per year.The prevailing feed-in tariff in Madhya Pradesh was US$ 0.2619/kWh (INR 15.35/Unit @ 58.6 INR/USD). On April 2013, IFC sanctioned an overall senior debt facility of US$ 50 million for various solar power farms to be developed over the next two years by Acme Solar. Out of the US$ 50 million facility, a local currency-A loan of approximately US$ 12.5 million-equivalent was proposed for ACME Solar Energy (Madhya Pradesh) Private Limited to develop the 25 MW Madhya Pradesh project, which was expected to cost around US$ 36 million.No further information was available at the time of collection of this information. The deadline for commissioning was November 2013. The project was fully commissioned in February 2014.