Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / News/  ADB plans to invest $100 million in Acme Solar’s India projects
BackBack

ADB plans to invest $100 million in Acme Solar’s India projects

Acme Solar expects to build 200MW of solar power projects in the country by 2016, according to the funding proposal

The ADB board is set to meet on Thursday on the investment in Acme Solar’s projects in India. Photo: ReutersPremium
The ADB board is set to meet on Thursday on the investment in Acme Solar’s projects in India. Photo: Reuters

New Delhi: The Asian Development Bank (ADB) plans to invest $100 million to help Electricite de France SA-backed Acme Solar Energy Pvt. Ltd build 200 megawatts (MW) of solar projects in India.

The board of the Manila-based lender is set to meet on Thursday on the investment, Don Purka, a director in the ADB’s private sector infrastructure finance division, said by phone on Wednesday.

Acme Solar—a venture between EDF’s renewable unit, India’s Acme Group and Eren SA—expects to build the capacity by 2016, according to project information included in the funding proposal. Bloomberg

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 15 Oct 2014, 12:46 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie