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ACME Energy
Summary of Investment Information

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein that has been prepared by the project sponsor, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein.
It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision.

Project number 32497
RegionSouth Asia
Company nameACME SOLAR ENERGY (MADHYA PRADESH) PVT. LTD.
Country
India
SectorV-BF - Solar - Renewable Energy Generation
DepartmentGbl Infrastructure & Natural Resources
Environmental categoryB
StatusPending Signing
Date SPI disclosedApril 17, 2013
Projected board dateMay 24, 2013
Previous EventsApproved: June 14, 2013
View Environmental & Social Review Summary (ESRS), click here
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Project Description
The proposed Project involves a multi-level engagement and partnership with Acme Solar Energy Private Limited (“ACME Solar”), a holding Company founded by ACME Tele Power to develop, construct and operate solar generation assets in India.

IFC is considering providing an overall envelope for debt funding in the amount of US$50 million, to be used over the next few years for various projects that ACME Solar is developing. The first tranche of this financing is expected to be provided to ACME Solar Energy (Madhya Pradesh) Private Limited (“ASEMPPL”), a subsidiary of ACME Solar established to develop a 25 MW grid connected solar photovoltaic power plant in the State of Madhya Pradesh (MP), India (the “Project”). ASEMPPL has entered into a 25-year power purchase agreement (“PPA”) with MP Power Management Company and is estimated to supply 50 GWh per year. The deadline for commissioning is November 2013.Other projects that ACME Solar is developing, which IFC may consider for financing under the facility include solar projects in Odisha and Andhra Pradesh.

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