ACME Solar Wins Bid To Install 160 MW Solar Power Capacity In India
ACME Solar has emerged as the largest successful bidder in the recently concluded solar power capacity auction in Andhra Pradesh. With this success, the company claims that it is on track to have an installed solar power capacity of 1 GW in India by 2017.
Andhra Pradesh government had called for proposals to set up 500 MW of solar power capacity. The response to the tender was overwhelming, to say the least. Prospective project developers offered to install a massive 1,291 MW of capacity. ACME Solar secured the right to develop 160 MW of solar power projects. These projects would require an investment of $210 million. The auction was part of the state’s ambitious plan to install 5 GW of solar power capacity by 2019.
ACME Solar has been a consistent participant in the Indian solar power market since its inception in 2010. The company implemented what was among the first solar power projects in India. The company had set up India’s first and only power tower solar thermal power project when the National Solar Mission was still in its infancy. The 2.5 MW project sits in the desert of Rajasthan.
The company also participated in the last round of auctions held under the National Solar Mission, where it secured the right to develop 100 MW of solar photovoltaic power plants in Rajasthan. The International Finance Corporation (IFC) provided $50 million loan to the company to develop projects in Rajasthan and Madhya Pradesh. Additionally, the company participated in the Gujarat solar power program and installed 15 MW solar PV project.
The recent auction conducted by the Andhra Pradesh government can be considered a huge success as some of the leading renewable energy companies placed bids to install projects. The auction also saw First Solar bid to set up projects in India for the first time. The company had placed bids to install 40 MW of solar power capacity in the state.
Andhra Pradesh is expected to remain an attractive market for project developers, as the Solar Energy Corporation of India (SECI) recently issued a proposal that would see bidding for 1,000 MW solar power capacity to be installed in the state as part of an ultra mega solar power project.
Image Credit: ACME Solar
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