News Article
Indian Equity Deal
eSolar signs deal with Indian Acme Group worth $30 million
eSolar has said it signed a $30 million deal with the Acme group in India. The deal has a dual purpose with both equity and licensing aspects.
India-based Acme Group will make a $30 million investment in Esolar in exchange for a 5 percent ownership stake and the right to use its technology over the next 10 years. Under the deal, Acme will build up to 1,000 megawatts of solar-thermal power plants in India using eSolar's technology, and could work with other companies that want to build solar plants using eSolar's technology.
India-based Acme Group will make a $30 million investment in Esolar in exchange for a 5 percent ownership stake and the right to use its technology over the next 10 years. Under the deal, Acme will build up to 1,000 megawatts of solar-thermal power plants in India using eSolar's technology, and could work with other companies that want to build solar plants using eSolar's technology.