Panchabuta has often talked about the potential of offgrid solar- especially in the telecom space-particularly in the rural telecom and telecom tower space.
According to reports, passive infrastructure and energy conservation solutions provider Acme Tele Power is looking for investments from private equity players. The company, which grew rapidly till 2008 on the back of the telecom boom, is finding the going tough since the last two years and is even open to exiting if it finds a buyer and an attractive valuation. The company’s valuation would not be more than R400 crore.
Industry sources said Acme had mandated Ernst and Young in 2009 to sell a majority stake but shelved plans since it could not get the desired valuation.
Originally, Acme operated as a provider of passive infrastructure products and installation and maintenance services to wireless telecommunications service providers.
In 2007, it began to expand the scope of its business to include the provision of energy management services and turnkey solutions to telecommunication operators.
In December last year, 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) 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.
Further in April this year, Ex-Im Bank also authorized a $19 million loan guarantee to PNC Bank in Pittsburgh, Pa., for a long-term fixed-interest rate loan supporting sales of thin-film solar modules by First Solar Inc. to a 15-MW solar power plant in the state of Gujarat.
The loan will be made to the project sponsor, ACME Solar Technology (Gujarat) Pvt. Ltd., on a limited-recourse project-finance basis. The repayment of the loan is based on the cash flows generated by the sale of electricity to the government of Gujarat’s power utility company, Gujarat Urja Vikras Nigam Ltd.