EDF-EN forms India solar JV
France’s EDF Energies Nouvelles has made its debut in South Asian renewables, forming a PV development joint-venture with India’s ACME Cleantech Solutions.
India presents “considerable potential for EDF-EN to expand its solar-energy operations”, the company says.
EDF-EN, a major wind and PV developer present in 18 countries, will hold a 25% stake in the joint venture. ACME will hold a 50% stake, while a third company, EREN, will hold the remainder.
ACME is currently building a 30MW PV project in Madhya Pradesh, and claims to have a 200MW pipeline in its home country of India.
Delhi is targeting 20GW of solar capacity – spanning PV and CSP – by 2022.