Acme Solar Wins 250 MW Renewable Energy Project in NHPC Auction

New Delhi, Dec 11 (PTI) Acme Solar Holdings on Wednesday said the company has bagged a renewable energy project of 250 MW in an auction held by NHPC.

With this latest win, its total capacity now stands at 6,970 MW, Acme Solar said in a statement.

The 250 megawatt (MW) firm and dispatchable renewable energy (FDRE) project has been secured in an e-reverse auction held by NHPC on December 10, 2024, it said.

The project has been secured at a tariff of Rs 4.56 per unit, the company said.

"This project includes a green-shoe option that could potentially expand the total capacity of this project from the initial 250 MW to 500 MW," it said.

An FDRE plant enables round-the-clock power supply, assisting power distribution companies (discoms) in fulfilling their renewable purchase obligations (RPOs) and energy storage obligations (ESOs).

The project will deliver four hours of peak supply, requiring a blend of solar, wind, and battery technologies, ensuring a reliable and stable energy supply during periods of high demand.

Nikhil Dhingra, CEO of ACME Solar Holdings Limited, said, "We are looking forward to increasing our commitment to NHPC with this bid win and executing this project utilising CTU (central transmission utility) connectivity we already have in Rajasthan and Gujarat. This project is likely to have a scheduled COD (commercial operation date) to be in FY28 assuming PPA (power purchase agreement) to get signed in early FY26."

Acme Solar Holding is one of the largest renewable energy producers and among the top 10 renewable energy players in India.