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
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
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