U.S. solar power plant developer eSolar said Tuesday it has signed a $30 million deal with Indian technology company Acme Group that is part equity investment and part licensing agreement.
Under the deal, Acme will build up to 1,000 megawatts of solar-thermal power plants in India using eSolar's technology, and could work with other companies that want to build solar plants using eSolar's technology, the companies said.
Acme plans to start construction on the first 100 megwatts of a 250-megawatt project in India using eSolar's technology, according to privately held eSolar, of Pasadena, Calif.
"Acme's $30 million dollar commitment demonstrates their confidence in eSolar's technology," eSolar Chief Executive Bill Gross said in a statement. "We are committed to working with the very best partners, such as Acme, to scale deployment as quickly as possible around the world."
ESolar announced a separate deal last week with U.S. independent power producer NRG Energy Inc. (NRG), in which NRG will invest at least $10 million for an equity stake in eSolar and the right to build and own 500 megawatts of solar-thermal power plants using eSolar technology.
Among the solar-thermal power plants NRG, of Princeton, N.J., invested in is a 245-megawatt facility under development in Kern County, Calif. for which eSolar signed a power purchase agreement with Edison International (EIX) unit Southern California Edison.
ESolar is building a demonstration solar-thermal power plant in Southern California with technology that the company plans to use for its commercial- scale plants.
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