Names ACME as a master licensee of its modular, scalable technology and grants exclusive right to represent eSolar in India
eSolar, a producer of modular, scalable solar thermal power plants, has announced an exclusive licensing agreement with the ACME Group to build up to 1,000MW of solar thermal power plants in India over the next 10 years.
eSolar names ACME as a master licensee of its modular, scalable technology and grants the company the exclusive right to represent eSolar in India developing its own utility-scale solar thermal projects and working with other companies that want to build solar thermal power plants in India using eSolar technology.
The agreement combines both companies’ resources to enable complete project capabilities, ranging from technology development and component manufacturing to power plant construction and operation. Additionally, ACME will make a $30 million equity investment in eSolar.
As a master licensee, ACME will build, own and operate solar thermal plants in India using eSolar’s modular and scalable design and will work with other companies to build solar thermal power plants in India using eSolar technology. ACME has already signed power purchase memoranda of understanding for 250MW. Construction will start later in 2009 on the first 100MW of eSolar power plants.
Bill Gross, CEO of eSolar, said: eSolar has produced the first solar energy that is competitive with fossil fuels. 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.