Leading Solar Power Player in India Wins 160 MWatts of New Solar PV Projects

An ACME solar thermal tower generator in India
An ACME solar thermal tower generator in India

New Solar PV Projects ( Solar Thermal Magazine)

ACME Group, India’s leading solar power player in India recently announced that it has emerged as the largest successful Bidder for 160 MW solar PV power projects at the 500 MW tender opening ceremony event at Hyderabad under RFP floated by Southern Power Distribution Company Limited of Andhra Pradesh (APSPDCL)

As per the terms and conditions of the bidding document, the selected developer would sign 25 year long PPA with AP Discom on bided tariff. Commenting on this momentous occasion, Mr. Manoj Kumar Upadhyay, Founder & Chairman, ACME Group said,

 This win is the country’s largest win by any private solar developer. It is a testimony to the prowess of ACME Group and further strengthens our emergence as the leading solar power producer in the country

With this addition, our solar power portfolio has reached 422.5 MW and we are on way to generate 1000 MW by year 2017. We thank the Andhra Pradesh Authorities for their initiatives and look forward for support from all stakeholders to help us in achieving the dream of bring power to every house by 2019.” This project would entail an estimated investment of $ 210 mm/ Rs. 1250 crores.

The 160 MW projects would be set up in the three districts of Anantpur, Karnool and Chittoor in Andhra Pradesh.

This month ACME Group received final approval for credit facility of $100 mn loan from Asian Development Bank. US$ 50 mn shall be utilized in developing 100 MW projects in Rajasthan and the remaining amount of loan shall be used for its upcoming projects. Last month, ACME also sourced an investment from IFC in the form of an ‘A’ Loan of up to $34 million (Rs. 201.9 crores ) for the 100 MW project in Rajasthan under the ambit of JNNSM. Earlier, IFC also funded Rs.73.10 crores for the 25 MW solar power project of the company in Madhya Pradesh which was commissioned early this year.

The company had an existing portfolio of 2 62.5 MW including 100 MW JNNSM Phase II Projects, in the states of Gujarat, Madhya Pradesh, Rajasthan, Odisha and Chhattisgarh.

The company aims to generate 1000 MW by the year 2017.

The portfolio consists of 100 MW plants in Rajasthan, 25 MW plant in Madhya Pradesh, 25 MW plant in Odisha, 30 MW plant in Chhattisgarh, a 15 MW in Gujarat, 10 MW in Assam, 25 MW in Bihar, 30 MW in Uttar Pradesh and a 2.5 MW CSP plant in Rajasthan. Out of these, the 25 MW plant in Madhya Pradesh, 15 MW plant in Gujarat and 2.5 MW CSP in Rajasthan are fully operational, making its operational capacity at 42.5 MW. While other projects are at various stages of commissioning, the 100 MW Rajasthan projects are expected to be commissioned by April 2015.

ACME Group showcased its prowess in solar PV technology through its 25 MW plant at Khilchipur, Madhya Pradesh that achieved a record output of 25 GWh in six months of installation, a record in maximum power output by any solar power plant of that scale.

Source article: http://eqmaglive.com/EQ-ARTICLE-30485-Acme-group-Has-emerged-as-the-largest–Succe.html#.VF-VZfnF-So

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