Tuesday
June 22
2021

ACME Solar Attracts Equity Investment in New India Project

By Chito Santiago

One of India’s leading independent power producers in the solar energy sector, ACME Solar, has signed a shareholders’ agreement with the United Nations Office for Project Services (UNOPS) / Sustainable Investments in Infrastructure and Innovation (S3i) and the Investment Fund for Developing Countries (IFU) to develop a 250-megawatt solar power project located in Rajasthan, India.

The total cost of the project, announced on June 17, is just under the equivalent of US $200 million, of which about a quarter is funded through the equity contributions of the partners, with the UNOPS share being 10%. UNOPS, a UN organization, will co-invest with S3i. Once in operation, the solar plant will provide clean electricity to 500,000 households under a 25-year power purchase agreement (PPA) with Solar Energy Corporation of India.

Photo courtesy of Marufish.

 

Source: The Asset (link opens in a new window)

Categories
Energy, Investing
Tags
clean energy, electricity, ESG investing, investing, renewable energy, SDGs, sustainability