Solar thermal power company eSolar has entered into an exclusive licensing agreement with ACME Group, an India-based infrastructure solutions company that allows for the construction of up to 1GW of solar power plants in the country over the next 10 years. As a licensee of eSolar’s technology, ACME is granted the exclusive rights to represent eSolar in the construction of solar thermal plants in India.
The $30 million agreement allows for ACME to participate in solar thermal plant construction and operations in India using eSolar’s technology over the next 10 years, as well as activities such as technology development and component manufacturing.
ACME has already signed power purchase MOUs for 250MW worth of power plants, of which 100MW will begin construction later this year.
Marking eSolar’s first such international licensing agreement, the deal is further to the recent $10 million collaborative move with NRG Energy, Inc., which will see up to 500MW of solar power plants in the U.S. being constructed by NRG using eSolar’s modular and scalable technology.
“eSolar has produced the first solar energy that is competitive with fossil fuels,” said Bill Gross, CEO of eSolar. “ACME’s $30 million commitment demonstrates their confidence in eSolar’s technology. We are committed to working with the very best partners, such as ACME, to scale deployment as quickly as possible around the world.”