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EDF Energies Nouvelles, EREN Renewable Energy may exit Acme Solar

French firm EDF Energies Nouvelles and Luxembourg-based EREN Renewable Energy may exit Acme Solar , their joint venture in India with Acme ACleantech Solutions. EDF and EREN are parting ways with Acme.

Maybe the foreign players had a different set of expectations from Acme. EDF and EREN hold 25% stake each in the company with Acme holding the rest. 

An industry consultant said the foreign partners had issues with Acme Solar's aggressive bidding, and project execution. Formed in December 2013 Acme Solar is now the country's second largest solar developer after SunEdison with nearly 1500 MW of solar assets across 15 states - 600 MW already commissioned, 500 MW under construction and 400 MW in the pipeline. 

Acme Solar Holdings, denied the partnership was breaking up, but added that the company can manage even without foreign partners. "There is no plan or attempt on EDF's or EREN's part to get out of the Indian market or anything like that.

 

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Monday, 19 August 2019 13:02