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Acme Solar arms commission four SECI projects in Rajasthan As on : 19-Dec-24  15:01

This achievement marks the commissioning of one of the largest single-location projects by any renewable energy company in India this year. The remaining capacity of 177 MW from these plants is already energised and is in the process of commissioning.

The project had already started supplying power in October 2024. This project at its full capacity is estimated to generate around 3,000 MUs of clean electricity and will obviate GHG emissions of 2.6 million metric tons each year.

The project is strategically located in one of the best solar irradiation zones of the country and leverages common infrastructure from all four plants (300 MW each) to evacuate power, leading to optimized generation at a higher efficiency. The project is financed by PFC and REC and has a 25-year PPA with Solar Energy Corporation of India (SECI) at a tariff of Rs 2.44 per unit.

Commenting on this achievement, Nikhil Dhingra, CEO of ACME Solar Holdings, said, 'This commissioning is a very important milestone for us. This takes our total commissioned portfolio to 2,363 MW and our central government counterparty portfolio to 65% of the total portfolio. Out of this, we have 1,773 MW of capacity located in the high irradiance zone of Rajasthan.

We are very thankful to all stakeholders for their support. It is a testament to the excellent project and engineering capabilities of our team. We are really looking forward to strengthening our presence in Rajasthan further in the near term with our upcoming CTU-connected solar, FDRE, and hybrid plants utilising our existing connectivity and executed PPA's with Central counterparties.

ACME Solar Holdings (ACML) is a renewable power generation company in India with a portfolio of solar, wind, hybrid, and FDRE (firm and dispatchable renewable energy) projects.

The company's consolidated net profit declined 60.4% to Rs 15.30 crore on 19.7% fall in revenue from operations to Rs 259.59 crore in Q2 FY25 over Q2 FY24.

The scrip debuted into the stock market on 13 November 2024. The counter was listed at Rs 259, exhibiting a discount of 10.38% to the issue price of Rs 289.

Shares of Acme Solar Holdings tumbled 4.95% to Rs 238.10 on the BSE.

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