acme receives approval from adb for $100 mn credit facility

Media Release
ACME RECEIVES APPROVAL FROM ADB
FOR $100 MN CREDIT FACILITY
EDITORS’ SYNOPSIS
• $50 mn to be used for 100 MW project in Rajasthan
• $50 mn to be used for future projects of company
• ACME Group already sourced $ 34 mn loan from IFC
• ACME Solar aims to generate 1000 MW by 2017
New Delhi, 16 October 2014: ACME Group, the leading green energy player in India,
announced that it has received final approval for credit facility of $100 mn loan from Asian
Development Bank. The proceeds of the loan shall be received in multiple tranches. The
first tranche of US$ 50 mn shall be utilized in developing 100 MW projects in Rajasthan and
the remaining amount of loan shall be used for its upcoming projects.
Commenting on the occasion, Mr. Manoj Kumar Upadhyay, Founder & Chairman, ACME
Group said, “We thank ADB for its participation in our Solar Power Projects. This
expression of interest depicts the potential of Solar Power in the country which has been
facilitated by sound policy framework and focus of the current government on the renewable
sector. The impetus provided by the financial institutions will help the sector to tide over the
challenges and increase its share from 1% to 3% in the overall energy mix.”
Last month ACME Group also sourced an investment from IFC in the form of an ‘A’ Loan of
up to $34 million (Rs. 201.9 crores) for the 100 MW project in Rajasthan. Earlier, IFC also
funded Rs.73.10 crores for the 25 MW solar power project of the company in Madhya
Pradesh which was commissioned early this year.
The company has a portfolio of 197.5 MW including 100 MW JNNSM Phase II Projects, in
the states of Gujarat, Madhya Pradesh, Rajasthan, Odisha and Chhattisgarh. The company
aims to generate 1000 MW by the year 2017. The portfolio consists of 100 MW plants in
Rajasthan, 25 MW plant in Madhya Pradesh, 25 MW plant in Odisha, 30 MW plant in
Chhattisgarh, a 15 MW in Gujarat and a 2.5 MW CSP plant in Gujarat. Out of these, the 25
MW plant in Madhya Pradesh, 15 MW plant in Gujarat and 2.5 MW CSP in Rajasthan are
fully operational, making its operational capacity at 42.5 MW. While other projects are at
Media Release
various stages of commissioning, the 100 MW Rajasthan projects are expected to be
commissioned by April 2015.
ACME Group showcased its prowess in solar PV technology through its 25 MW plant at
Khilchipur, Madhya Pradesh that achieved a record output of 25 GWh in six months of
installation, a record in maximum power output by any solar power plant of that scale.
About ACME Group:
The ACME Group prides itself as a pioneer in the development of green technology solutions
that are environment friendly, energy efficient, & cost effective and also capable of
delivering a quick return on investment. The ACME group is a result of the vision and
commitment of its founder, Mr. Manoj Kumar Upadhyay. He sought to realize this goal by
providing radically new technology solutions through intensive research and development
instead of making incremental changes to existing technologies. The establishment of ACME
Cleantech Solutions Ltd. (formerly ACME Tele Power Limited) in 2003 was the first step
towards realization of this dream.
ACME Group has a portfolio of 197.5 MW solar project and its innovative products are
installed at over 1, 50, 000 telecom sites across the globe. Through its projects and
solutions, ACME products are facilitating significant Carbon Emission Savings to the tune of
2.2 million tonnes annually.
ACME has enabled telecom expansion to farthest as well as most interior and hitherto
unconnected regions of India while reducing carbon emissions from the telecom site as well.
The Company today enjoys an international presence, through its own establishments,
channel partners, and associates.
For more details, please contact –
Vijeta Chaudhary
Manager – Marketing & Communication
Phone - +91-124-7117000
E-mail: [email protected]
Website: www.acme.in
Anuj Bakshi/ Kuldeep Negi
Adfactors PR
Mobile - +919711306879/ +919711306379
E-mail – [email protected];
[email protected]

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