US-based American Capital Energy and MSM Energy will soon announce a solar energy joint-venture for engineering, procurement and construction of projects in India.
America's leading solar company, American Capital Energy (ACE), and MSM Energy (MSME), a leader in information technology and solar energy development, are set to announce a solar energy joint-venture based in India, a company statement said.
The new entity will immediately begin providing photovoltaic (PV) solar engineering, procurement and construction (EPC) to the Indian market, it said.
"The time is right for the world to adopt the clean and renewable energy source as the major electricity producer," ACE President and CEO Tom Hunton said.
The Indian government had announced the Solar Mission under the National Action Plan on Climate Change in November, 2009, with the goal to generate 1,000 Mw of solar power by 2013 and 20,000 Mw by 2020.