ACME Solar Holdings has secured a Letter of Award (LOA) for a 50 MW Firm and Dispatchable Renewable Energy (FDRE) project. The project was awarded under a 250 MW FDRE tender floated by Tata Power Company’s licensed electricity distribution arm, Tata Power-D. The tariff for the project has been set at Rs 4.43 per unit.
E-Reverse Auction Conducted in August
In its regulatory filing the company informed that the FDRE tender was floated under tariff-based competitive bidding (TBCB) guidelines, and an e-reverse auction was conducted on August 13. The project is expected to maintain a minimum annual capacity utilization factor (CUF) of 40 per cent and provide four hours of peak-hour supply with 90 per cent availability every month.
Hybrid Technology to Ensure Supply Obligations
To meet the supply requirements, the project will integrate multiple renewable energy technologies, including solar power and a Battery Energy Storage System (BESS). The power purchase agreement (PPA) has a tenor of 25 years, and the project is slated for commissioning within 24 months from the PPA signing.
Share price of ACME solar
The share price of ACME Solar Holdings opened 3.04 per cent higher than the previous close after the company announced the project in a regulatory filing today.
ACME Solar Holdings currently operates 2,890 MW of capacity with in-house engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) divisions.
