FX has finally renewed "Fargo" for Season 2. The first season of "Fargo," which is inspired by Coen brothers' movie of the same name, received both -- decent viewership rating and critical acclaim. The show recently scored 18 Emmy 2014 nominations, including for the show as well as multiple acting nominations.

Renewing "Fargo" for Season 2, John Landgraf, CEO at FX, said in a statement, "We could not be more proud of Fargo," said in a statement. "[Season 1] was nothing short of breathtaking and we look forward to the next installment."

Unlike FX's horror anthology series "American Horror Show," "Fargo" will not be returning with the same actors of Season 1 performing new or Season 1 roles in Season 2. Noah Hawley, creator of "Fargo," has confirmed that the original cast of "Fargo" is not returning to play any role in the new season.

The character of Lou Solverson, however, is set to play one of the principal characters in the new season, though Keith Carradine is not returning to reprise his role.

Hawley has revealed that "Fargo" season 2 is set in 1979. The events in the new season will take place around Luverne, Minnesota and Fargo and Sioux Falls. At Television Critics Association (TCA), Hawley said to the press, as quoted by TV Guide, "If you were paying attention to Season 1, we made a lot of reference to Sioux Falls, [South Dakota]. That was not an accident," he said. "It will take place in 1979 and take place around, Luverne, Minnesota and Fargo and Sioux Falls."

The second season will feature the 33 year version of Lou Solverson, according to Hawley. At the time, Molly, born in 1975, would be around four years old and this crushes any chance of Allison Tolman returning to reprise her Season 1 role.

"He [Lou] thought he left the war [Vietnam war] behind, but he came back and here it is, it's domestic," Hawley said to the press, as quoted by Entertainment Weekly (EW). The new season will introduce Molly's mother and Lou's father-in-law, as well.

"We will meet Molly's mother, who was not a character in season 1 ... and we'll learn what happened to her," Hawley said. In the 1979 set "Fargo," Lou Solverson is a state police officer and Betsy is his wife. Betsy's father, according to Hawley, is the sheriff of Rock County.

""[Lou's] father-in-law is a character in this next go-round. I don't know if we see any other Solversons... I'm excited to spend time with Molly's mom," Hawley said to the press.

He also revealed that one more character of Season 1 is returning in Season 2. Lt. Ben Schmidt, the commanding officer of Gus, is returning, too, as he was present at Sioux Falls in 1979.

Hawley teased that the new season will be inspired by Coen brothers' "Fargo," "Miller's Crossing" and "The Man Who Wasn't There." "Let the Internet speculation begin," he said.

The casting has yet to begin for Season 2, which is likely to premiere sometime in fall 2015.