Under the agreement, eSolar names ACME as a master licensee of its modular, scalable technology and grants the company the exclusive right to represent eSolar in India developing its own utility-scale solar thermal projects and working with other companies wanting to build solar thermal power plants in India using eSolar technology.
The agreement combines both companies' resources to enable complete project capabilities, ranging from technology development and component manufacturing to power plant construction and operation. Additionally, ACME will make a US$30 million equity investment in eSolar.
ACME has already signed power purchase Memoranda of Understanding (MoUs) for 250 MW. Construction will start later this year on the first 100 MW of eSolar power plants, and ACME is targeting 1 GW of solar power within India over the next 10 years.