ACME to invest Rs 600 crore in Punjab; to set up solar plants

ACME Group will invest Rs 600 crore for setting up 74 MW of solar photo voltaic (PV) power projects in Punjab.
The company bagged these projects under competitive bidding route.
"As per the RFP document, ACME would be signing two PPAs (power purchase agreements)of 24 MW and 50 MW capacity, at a tariff of Rs 7.16 per unit and Rs 7.06 per unit, respectively" ACME said in a statement.
"We take pride in announcing our partnership with the Punjab government as the largest solar power developer in the state and help them in their endeavor to fuel the solar revolution in the country," Manoj Kumar Upadhyay, Founder & Chairman, ACME said.

Through our expertise, the company shall bring to the state the success of renewable energy similar to that the country witnessed in the telecom sector, he added.
This project would entail an estimated investment of Rs 600 crore, the statement added.