Renewable energy firm ACME Solar Holdings Ltd (ASHL) announced on Wednesday, January 8, that it has successfully commissioned an additional 90 MW of solar power capacity in Rajasthan. This brings its total operational renewable energy generation capacity to an impressive 2,453 MW.
According to the company’s regulatory filing, the newly added capacity includes 62 MW commissioned by ACME Dhaulpur Powertech Private Ltd and 28 MW by ACME Raisar Solar Energy Private Ltd, both on January 7, 2025. With this milestone, the two solar plants are now fully operational, each with a rated capacity of 300 MW.
The commissioning of the 90 MW capacity builds on ACME Solar’s earlier announcement on December 19, 2024, when it reported the commissioning of 1,023.05 MW of solar projects in Rajasthan through its wholly owned subsidiaries.
These developments underline the company’s focus on Rajasthan as a key hub for its solar initiatives. ACME Solar’s strategic expansions in the state are bolstering its position in India’s renewable energy sector.
In December 2024, ACME Solar secured ₹1,988 crore in financing from Power Finance Corporation (PFC) for a 300 MW solar-wind hybrid renewable energy project. The hybrid project integrates solar power generation in Bikaner, Rajasthan, with wind energy production in Bhuj, Gujarat.
With a power purchase agreement (PPA) signed with NTPC, grid connectivity in place, and land fully procured for the solar component, the project is expected to commence operations by June 2025.
Separately, ACME Solar was awarded a 300 MW solar power project under the SECI-ISTS XVIII scheme at a tariff of ₹3.05 per unit. To meet the requirements of this project, the company plans to relocate its under-construction ACME Sikar project in Rajasthan, leveraging the existing grid infrastructure at its Bikaner-2 site.
On January 09, 2025, ACME Solar Holding share price traded 4.02% higher at ₹239.15 at 12:40 PM (IST), while the BSE benchmark Sensex is down 396.50 points to 77,751.99. ACME Solar Holding’s share price reached a 52-week high of ₹292 on December 12, 2024, and a 52-week low of ₹224 on December 23, 2024. As per BSE, the total traded volume for the stock stood at 0.31 lakh shares with a turnover of ₹72.97 crore.
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Published on: Jan 9, 2025, 2:02 PM IST
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