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ACME Tele Power Ltd Signs Module Supply Agreement With First Solar for Photovoltaic Solar Power Project in India

ACME Tele Power Ltd (ATPL), a leader in the field of innovative solutions for alternative energy and wireless telecommunications, and First Solar, Inc. (Nasdaq: FSLR) today announced that they have signed a module supply agreement. The agreement covers the supply of First Solar’s advanced, thin film modules to ACME for a 15 MW (DC) solar power plant in the state of Gujarat. Delivery is expected to take place by March 2011 to fulfil the Gujarat government’s expectations.
Mr. Manoj Kumar Upadhyay, Chairman & Managing Director ACME Tele Power Ltd on signing the agreement commented, “We are delighted to have entered this agreement with First Solar, which is one of the few companies in the world that possess a complete set of capabilities required to realise very large photovoltaic solar projects. This agreement is in line with our endeavour of pioneering turnkey solar technologies in India. We are enthusiastic about working with First Solar to make this ambitious project a success and deliver larger benefits to the country.”
Mr. Atul Sabharwal, Executive Vice President ACME Tele Power Ltd commented, “We are excited about the developing relationship between ACME and First Solar. Our hope is that this project will mark the beginning of a long and mutually beneficial relationship between the two companies as we begin to develop the nascent Indian solar market and ACME demonstrates its expertise in engineering, procurement and construction of projects with First Solar modules.”
Commenting on the signing, TK Kallenbach, Executive Vice President of Marketing & Product Management at First Solar, said, “We see India as a land of immense opportunity and potential. We are pleased to collaborate with a leader like ACME to contribute to the country through the development of clean, affordable, sustainable solar electricity utilising our advanced, thin film technology and unparalleled experience in large-scale solar PV systems.”

ACME is already commissioning a 10MW Solar Thermal power plant in Bikaner, Rajasthan. The technology for that project is from eSolar and ACME has made an equity investment in eSolar for the same. eSolar has named 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.

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