ACME Renewtech, a subsidiary of ACME Solar Holdings (ACME Solar), has successfully secured Rs 1,988 crore in term loan financing from Power Finance Corporation (PFC) to fund the development and construction of a 300 MW Solar-Wind Hybrid Renewable Energy Project. The project will be located in high-resource potential areas, with solar capacity to be developed in Bikaner, Rajasthan, and wind sites in Bhuj, Gujarat. Power Purchase Agreement (PPA) has already been signed with NTPC, and grid connectivity for the project is in place. The land for the solar capacity has been fully procured. PFC, acting as the sole lender, has structured the financing with an optimal debt-to-equity ratio of 80:20. In addition to this significant development, ACME Solar has achieved another milestone in its renewable energy portfolio by securing a 300 MW Solar Power Project under the SECI-ISTS XVIII scheme at a tariff of Rs 3.05 per unit. The project is required to commence operations on or before 30 June 2025 as per the PPA terms. To fulfil this, ACME Solar plans to allocate its existing under construction ACME Sikar project to the new bid, leveraging its existing grid connectivity in Bikaner-2 and the significant capital expenditure already incurred. The project will benefit from the Inter-State Transmission System (ISTS) waiver, as the Scheduled Commercial Opera,on Date (SCOD) is set before June 2025, aligning with the government`s incentives for the early operationalization of renewable energy projects.Powered by Capital Market - Live News

ACME Solar Holdings has successfully commissioned four ISTS-connected SECI projects aggregating to 1,023 MW capacity in Jaisalmer, Rajasthan, on 18 December 2024. This achievement marks the commissioning of one of the largest single location projects by any renewable energy company in India this year. The remaining capacity of 177 MW from these plants is already energised and is in process of commissioning. The project had already started supplying power from October 2024. This project at its full capacity is estimated to generate around 3000 MUs of clean electricity and will obviate GHG emissions of 2.6 million tonnes each year. The project is strategically located in one of the best solar irradiation zones of the country and leverages common infrastructure from all four plants (300 MW each) to evacuate power leading to optimized generation at a higher efficiency. The project is financed by PFC and REC and has a 25-year PPA with Solar Energy Corporation of India (SECI), at a tariff of Rs 2.44 / unit.Powered by Capital Market - Live News

Acme Solar Holdings has successfully secured a 250 MW Firm & Dispatchable Renewable Energy (FDRE) project in the e-reverse auction held by NHPC on 10 December 2024, at a tariff of Rs 4.56 per unit. Notably, 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. With this latest win, Acme Solar`s total capacity now stands at 6,970 MW.  The auction, titled Supply of 1200 MW FDRE (Assured Peak Power Supply) from ISTS-Connected Renewable Energy Power Projects Coupled with ESS (Tranche VI), aims to procure 1,200 MW of renewable energy integrated with Energy Storage Systems (ESS) across India. 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. Powered by Capital Market - Live News

Net profit of ACME Solar Holdings declined 60.39% to Rs 15.30 crore in the quarter ended September 2024 as against Rs 38.63 crore during the previous quarter ended September 2023. Sales declined 19.68% to Rs 259.59 crore in the quarter ended September 2024 as against Rs 323.20 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales259.59323.20 -20 OPM %85.0589.60 - PBDT78.02123.48 -37 PBT18.1537.88 -52 NP15.3038.63 -60 Powered by Capital Market - Live News

ACME Solar Holdings will hold a meeting of the Board of Directors of the Company on 25 November 2024Powered by Capital Market - Live News