 "solar power, solar energy, green energy, clean energy, renewable energy")
Shares of Acme Solar Holdings surged up to 4.32 per cent at Rs 279.70 per share on the BSE in the early hours of trading on Thursday. This came after the company on Wednesday said that it has secured a 250 MW Firm & Dispatchable Renewable Energy (FDRE) project from NHPC at a tariff of Rs 4.56 per unit.
The solar power company in an exchange filing said that the project also includes a green-shoe option that could potentially expand the total capacity of this project from the initial 250 MW to 500 MW.
The auction, titled "Supply of 1200 MW FDRE (Assured Peak Power Supply) from ISTS-Connected Renewable Energy Power Projects Coupled with ESS (Tranche VI)," aims to procure 1,200 MW of renewable energy integrated with Energy Storage Systems (ESS) across India.
The project will deliver four hours of peak supply, requiring a blend of solar, wind, and battery technologies, ensuring a reliable and stable energy supply during periods of high demand.
“This win takes our overall portfolio to 7 GW and a committed portfolio of long-term power supply with NHPC to 930 MW. Out of this 930 MW, our existing 680 MW 4 hours peak FRDE committed capacity with NHPC is expected to be converted to PPA shortly given NHPC has signed 1280 MW PSA recently with Uttar Pradesh. This project is likely to have a Scheduled COD to be in FY’ 2027-28 assuming PPA to get signed in early FY’26,” said Nikhil Dhingra, CEO of ACME Solar Holdings.
The recently listed Acme Solar’s stock has dipped 3.21 per cent over its issue price of 289 per share. The shares of the company got listed on BSE, NSE on November 13, 2024.
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Acme Solar Holdings is an Indian electricity producer specializing in renewable energy. The company is among the largest producers of wind and solar power in India.
The company focuses on the development, construction, ownership, operation, and maintenance of large-scale renewable energy projects. This is achieved through its in-house engineering, procurement, and construction (EPC) division, as well as its operations and maintenance (O&M) team. The company generates revenue by selling electricity to a diverse range of customers, including plants supported by both central and state government initiatives.
At 12:09 PM; the shares of the company were trading 1.77 per cent lower at Rs 272.85 a piece. By comparison, the BSE Sensex was down 0.18 per cent at 81,382.41 level.
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