"This would entail an estimated investment of USD 40 million/Rs 240 crore," the company said in a statement.
As per the terms and conditions of the bidding document, the selected developer would sign 25-year long power purchase agreement with the Chhattisgarh State Power Distribution Company Ltd (CSPDCL) on the uniform tariff submitted in the bid.
ACME Solar is a three-way joint venture between ACME Cleantech Solutions Ltd, EDF Energies Nouvelles (EDF EN) -- the renewable energy arm of French state-run electricity utility Electricite de France SA -- and Luxembourg-based natural resources saving group EREN.
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