BS reported that Gurgaon based ACME Tele Power Ltd seems to be betting big on renewable energy sector. The INR 2,000 crore company has chalked out plans to set up 110 MW solar thermal power project in Gujarat involving an investment around INR 1,500 crore to INR 1,600 crore.

As per report the company has zeroed in on Banaskantha district for its proposed solar thermal power project for which it requires a total of 800 acres of land.

Mr RB Mishra vice chairman of ACME said that "The project will be executed in a phased manner. In the first phase, 50 MW unit will be set up across 400 acres of land. We expect to commission 50 Mw capacity by December 2010. Remaining 60 Mw capacity will be added over the period of next two to three years time.”

The intends to complete the entire project by March 2014. ACME has entered into a technology partnership with US based Solar. In fact, the company is taking up solar thermal power projects in various states of India.

The company has planned solar thermal power projects aggregating to 500 Mw, which include 15 MW and 150 MW plants in Rajasthan and 100 Mw and 15 Mw projects in Madhya Pradesh and Maharashtra respectively.

Mr Mishra said that "In the long run the company is aiming to install power generation capacity of 10,000 MW.”

(Sourced from Business Standards)