ACME, Brookfield Renewable to jointly develop 450 MWp solar project in Rajasthan.

Solar power producer ACME recently said the company along with Brookfield Renewable will jointly build a 450 MWp solar project in Rajasthan.

"ACME, India's leading solar IPP (independent power producer), recently announced closure of a deal with Brookfield Renewable, a global owner and operator of renewable power assets, to build a 450 MWp Solar Project in Rajasthan," a company statement said.

However, the company did not disclose the financial details.

According to the statement this solar project includes a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company Limited (MSEDCL), a wholly-owned subsidiary of the Maharashtra State Electricity Board, the largest electricity distribution utility in India and the second largest in the world.

The project will provide clean and green electricity to over a million households. It is also expected that the project will provide jobs for over 450 people during its construction phase and 150 people while it's operating.

"We are glad to jointly develop a 450 MWp solar project in India and look forward to working with Brookfield Renewable in the future as well.

"We appreciate the enthusiasm from global renewable energy companies and investors who strive to be a part of India's success story. Backed by abundant renewable resources and lower per capita energy consumption, the country plans to achieve 450 GW of renewable power by 2030," said Manoj Upadhyay, Chairman ACME Group in the statement.

ET