Solar Company Commissions First Phase of 52.5 MW Out of 300 MW Acme Sikar Solar Power Project in Rajasthan
The company has a market cap of Rs 12,855 crore and the stock is up by 27.72 per cent from its 52-week low of Rs 167.55 per share.
ACME Solar Holdings Limited (ACME Solar) has successfully commissioned the first phase of the ACME Sikar Solar power project in Bikaner, Rajasthan. The current commissioning of 52.5 MW is part of the 300 MW solar project to be fully commissioned in phases. With this milestone, the company's total operational capacity has increased from 2,540 MW to 2,592.5 MW. Strategically located in one of India’s highest solar irradiation zones, it is poised to be an important contribution to India’s renewable energy goals.
The ACME Sikar Solar power project is spread across 1300 acres in Bikaner, Rajasthan. The clean energy harnessed through this 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. Financed through PFC Limited, this project is anticipated to generate approximately 780 million units of clean energy annually following its full commissioning. The power generated from the project will be sold on power exchanges on a merchant basis and it shall be suitably allocated based on optimal commercial utilisation.
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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 2,592.5 MW with another 4,377.5 MW at 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 Rs 12,855 crore and the stock is up by 27.72 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.