Acme Solar Energy Pvt., backed by Electricite de France SA’s renewable unit, won a license to build a 30-megawatt solar-power project in central India.
Acme will sign a 25-year contract to sell electricity generated by the plant to the Chhattisgarh State Power Distribution Co., it said in an e-mailed statement. The company expects to invest $40 million in the facility, it said.
The project will boost Acme’s total solar capacity to 180 megawatts. The company plans to own 1,000 megawatts by 2017.