Acme Cleantech has secured a bid to develop 160 megawatt of solar power projects in Andhra Pradesh, reports live mint.
The projects will come up in the Anantapur, Kurnool and Chittoor districts in Andhra Pradesh at an estimated investment of Rs.1,250 crore.
This win is the country’s largest win by any private solar developer, Manoj Kumar Upadhyay, founder, chairman, Acme Group.
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With this, the solar power portfolio has reached 422.5 MW and company is on way to generate 1000 MW by year 2017, Upadhyay added.
The company will sign a 25-year PPA with Southern Power Distribution in Andhra Pradesh.
A total of 51 bidders participated in the tender process. Andhra Pradesh is one of the state chosen by union government for a 24X7 power supply scheme.
Andhra Pradesh government is all set to harness solar energy for electricity generation. Recently, NTPC signed a MOU with Andhra Pradesh government to develop a 1,000 MW solar park on a build-own-operate basis with an investment of Rs.7,000 crore.
The Union government will grant Rs.500 crore to Andhra Pradesh to develop 2,500 MW of solar energy.
Acme Group has solar power projects in the states of Gujarat, Madhya Pradesh, Rajasthan, Odisha and Chhattisgarh.
In June, ACME Solar signed a 25-year long power purchase agreement with the Chhattisgarh State Power Distribution Company Ltd (CSPDCL).
In September, ACME Solar started power generation from the 25 MW solar project in Khilchipur, Madhya Pradesh and the plant takes the total operational capacity of ACME Solar to 42.5 MW.
ACME Solar is a three-way joint venture between ACME Cleantech Solutions, EDF Energies Nouvelles (EDF EN), the renewable energy arm of French state-run electricity utility Electricite de France and Luxembourg-based natural resources saving group EREN.
Sabeena Wahid
editor@greentechlead.com