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ACME Solar Holdings Ltd has bagged a 400 MW/1,800 MWh firm and dispatchable renewable energy project from SJVN at a tariff of INR 6.75 per unit for 25 years. The project, awarded through a Tariff-Based Competitive Bidding process, will combine 300 MW of solar power with 1,800 MWh of battery storage to deliver peak-time power. It will also be ACME Solar's first project to use Indian-made solar cells under ALMM List-II. The project aims to leverage Rajasthan's strong solar potential and existing transmission connectivity.
ACME Solar Holdings Ltd has won a 400 MW/1,800 MWh firm and dispatchable renewable energy project from SJVN, marking a significant step in the company's clean energy portfolio expansion. The project was secured at a tariff of INR 6.75 per unit for a 25-year period. Advertisement
The allocation was made under the Tariff-Based Competitive Bidding guidelines through an e-reverse auction held in early October. ACME Solar received the Letter of Award shortly after, confirming its bid for the project.
The project requires the company to supply four MWh of power per MW of capacity each day within a designated four-hour peak demand window, maintaining 90 per cent monthly availability. To meet this requirement, the project will integrate around 300 MW of solar power generation with a Battery Energy Storage System (BESS) of approximately 1,800 MWh capacity.
The new installation will take advantage of existing night-time transmission connectivity available to ACME Solar in Rajasthan, a state known for its high solar irradiation levels. It will also become the company's first project to use Indian-manufactured solar cells listed under ALMM List-II, aligning with the government's push for domestic solar manufacturing.
ACME Solar's Chief Commercial Officer, Rahula Kashyapa, stated that winning the SJVN FDRE-IV project would allow the firm to optimise its available transmission capacity and generate revenue earlier than planned. He added that the project represents a mutually beneficial opportunity for both ACME Solar and its customers, setting a record for the lowest tariff achieved in a peak power tender.
Based in Gurugram, ACME Solar is one of India's prominent renewable energy players, operating across solar, wind, storage, firm and dispatchable renewable energy (FDRE), and hybrid projects. The company currently has 2,918 MW of operational capacity and 4,472 MW under construction, including 13.5 GWh of battery storage installations.
Source PTI
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