Solar Company commissions 75 MW additional capacity at Sikar Solar project in Rajasthan
The company has a market cap of over Rs 15,000 crore and the stock is up by 55 per cent from its 52-week low of Rs 167.55 per share.
ACME Solar Holdings Limited has commissioned 75 MW of additional renewable energy capacity at the ACME Sikar Solar project in Rajasthan. This follows the earlier commissioning of 165 MW at the same project, taking the total commissioned capacity of the project to 240 MW out of a planned 300 MW. With this milestone, ACME Solar Holdings’ total operational capacity has increased to 2806.4 MW. The ACME Sikar Solar power project is spread across ~1300 acres in Bikaner, Rajasthan and strategically located in one of India’s highest solar irradiation zones. This geographical advantage empowers ACME Solar to be an important long-term contributor to India’s renewable energy goals.
The renewable energy harnessed through the ACME Sikar Solar project is pooled at the inverter stations and stepped up for evacuation to the Bikaner-II grid using a dedicated single circuit 220 kV transmission line. The debt of the project is financed by PFC Limited and is expected to generate approximately 780 million units of clean energy annually following its full commissioning. The project is envisaged to be allocated to a 300 MW solar power project, which ACME Solar had won earlier under the SECI-ISTS XVIII scheme at a tariff of INR 3.05 per unit, for which the tariff has been adopted & Power Purchase Agreement (PPA) is expected to be signed soon. In the interim, power generated from the commissioned capacity will be sold on power exchanges on merchant tariffs
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About the Company
ACME Solar Holdings is a leading integrated renewable energy player with a diversified portfolio of 6,970 MW spanning solar, wind, FDRE and hybrid solutions. With this commissioning, the operational capacity of ACME Solar stands at 2806.4 MW, with another 4,163.6 MW in various stages of implementation. With an in-house EPC and O&M division, the company does end-to-end development and O&M of the plants, thereby delivering projects in a time & cost-effective manner while ensuring best-in-class operating performance evident in its industry-leading CUF and operating margins.
The company has a market cap of over Rs 15,000 crore and the stock is up by 55 per cent from its 52-week low of Rs 167.55 per share.
Disclaimer: The article is for informational purposes only and not investment advice.