ACME and BSES sign 50MW Power purchase agreement for Asia’s largest Solar Power Project

Part of ACME’s 150MW solar power project in Jaisalmer.

Expected to commission operations by 2011.

ACME Jaisalmer Solar Power (Pvt) Ltd. (a wholly owned subsidiary of Gurgaon based – ACME Tele Power Ltd.), has today i.e. on 13-january-2010 signed a power purchase agreement with Power Distribution company BSES for 50 MW (25MW to BSES Rajdhani and 25 MW to BSES Yamuna). This is the largest solar power project in Asia, which is expected to be commissioned by June 2011. It is a part of ACME Solar power project of capacity of 150 MW (3 x 50 MW) being developed by ACME. The agreements were signed by R. B. Mishra, Vice Chairman ACME and Ramesh Narayanan, CEO BSES Yamuna & Sh. Gopal Saxena, CEO BSES Rajdhani in presence of Sh. Rajinder Kumar, Secretary (Power) Govt. of NCT of Delhi.

“We are delighted at having signed this agreement and see it as a great opportunity to extend our existing footprint in solar energy in India. The agreement with BSES is an important step in gearing up to meet the country’s power needs through solar energy,” said R. B. Mishra, Vice Chairman ACME, India.

“Climate change and the need to manage diminishing fossil fuel reserves are two of the biggest challenges today. In order to secure the future, we must act now to reduce energy consumption and this agreement has already created a new landmark in the field of solar thermal power generation,” Mr. Mishra further added.

Honorable Prime Minister Dr. Manmohan Singh launched the Jawaharlal Nehru Solar Mission, Solar India on 11^th Jan 2010, which will provide Solar Power generation of 20,000 MW by the end of 13^th Five year plan by 2022. This is a major step taken by ACME in helping to achieve Delhi government’s initiative of introducing green technology to minimize the pollution and making the Capital Green. Increased use of solar energy is a central component to bring about a strategic shift from our current reliance on fossil fuels to a pattern of sustainable growth based on renewable and clean sources of energy.

ACME Group is making strides into newer technology areas that have the capability to fuel its growth in the times to come. There has been a deliberate focus on commercializing technologies for environment-friendly and efficient energy generation systems like Solar Thermal for megawatt class power generation.

As a first step towards realizing its corporate vision, the Group entered into a licensing tie-up with eSolar, USA, a producer of innovative modular, scalable Solar Thermal Power Plants. This reflects the Group’s commitment to a non- conventional energy portfolio for developing markets. The Group has made a substantial equity investment in eSolar.

eSolar was announced the winner of “Best Renewable and Sustainable Project” at the 2009 Projects of the Year Awards by Power Engineering for its, Sierra Sun Tower facility, a state-of-the-art solar thermal power plant. eSolar celebrates this recognition along with its recent selection as a Technology Pioneer 2010 by the World Economic Forum. Recently, eSolar and Penglai Electric, a privately-owned Chinese electrical power equipment manufacturer announced a master licensing agreement to build at least 2 gigawatts (GW) of solar thermal power plants in China over the next 10 years.

About ACME Group

The ACME Group today is a leader in the field of innovative solutions for the wireless telecommunications industry and alternate energy. It prides itself as a trailblazer in the development of green technologies, i.e. solutions that fulfill societal needs by being energy efficient, cost effective and capable of delivering a quick return on investment, without impacting the environment adversely.
The ACME Group had its inception in 2003 with ACME Tele Power Limited through the vision of its founder, Mr. Manoj Kumar Upadhyay, who dreamt of providing radically new technology solutions, rather than making incremental changes to existing technologies through a fierce commitment to Research & Development and a passion to preserve the environment by energy conservation.

Source: Acme Tele Power