ACME Solar, part of an energy management group based in northern India, continues to expand its footprint in the huge and rapidly expanding Indian solar power market.
ACME Solar has become the largest successful bidder in India’s biggest solar power auction till date. The company has been awarded rights to develop 446 MW of solar PV capacity in the southern state of Telangana. A total of 2 GW solar PV capacity was on offer, but prospective developers submitted bids to develop over 4.6 GW capacity.
A subsidiary of SkyPower emerged as the lowest successful bidder for a 50 MW project at ₹5.17/kWh ($0.083/kWh), and also secured 3 more projects of capacity 50 MW each.
However, ACME Solar is hogging the limelight by being the largest winner of the auction. The company had placed bids for 510 MW capacity and managed to secure rights to develop 446 MW capacity at an average tariff of ₹5.84/kWh ($0.094/kWh).
ACME Solar has been among the first movers in the Indian solar power market. The company has been actively participating in the various state auctions as well as the auctions organised by the central government under the National Solar Mission. The company is among the largest developers under the National Solar Mission and recently announced that it had commissioned a total of 150 MW capacity under the program across various states. This capacity accounts for around 10% of the total capacity commissioned under the National Solar Mission till date.
ACME Solar is a joint venture company between ACME Cleantech Solutions Private Limited, France’s EDF Energies Nouvelles and Luxembourg-based EREN.
Image Credit: ACME Solar
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