ACME Solar said it has obtained one of the largest shares of the solar photovoltaic projects in India that are part of the country's plan to increase its renewable energy use called the Jawaharlal Nehru National Solar Mission (JNNSM) Phase II. After a bid, India chose ACME Solar to develop 100 megawatts of solar power as part of the nation's plan to eventually connect 20 gigawatts to the grid by 2022.
"The success of the phase II of JNNSM is a momentous occasion for all stakeholders in achieving the goal of clean and green energy," said Manoj Kumar Upadhyay, chairman of ACME Solar. "We thank the Solar Energy Corporation of India and look forward to support from all stakeholders to help us actively contribute in achieving the target of generating 22,000 MW solar power by year 2022."
India's government had $302 million in grants to help pay for project costs for India's solar power plan, Businessweek reported. The subsidies could lower the price of power generation to 5.5 rupees per kilowatt-hour.