ACME to Invest Rs 600 Crore in Punjab

ACME to Invest Rs 600 Crore in Punjab

Emerges as Largest Solar Power Player in Punjab

— Selected for 74 MW solar power projects

— ACME won bids at RFP floated by the Punjab Government

— Total portfolio increases to 701 MWp

— To make investment of Rs 600 crore for the project

— ACME to generate 7500 MW solar power by 2019

ACME Group, India’s leading solar power player in India, today announced that it has emerged as the largest developer for successfully securing 74 MW of solar PV power projects under the Punjab State Solar PV Tender of 250 MW capacities, issued by Punjab Energy Development Agency.

As per the RFP document, ACME would be signing two PPAs of 24 MW and 50 MW capacity, at a tariff of Rs. 7.16/ kwh and Rs. 7.06/ kwh respectively.

Commenting on this momentous occasion, Mr. Manoj Kumar Upadhyay, Founder & Chairman, ACME said ,”We take pride in announcing our partnership with the Punjab State Government as the largest solar power developer in the State and help them  in their endeavor to fuel the Solar Revolution in the country.  We thank the Punjab Electricity Development Agency and offer our complete support to achieve their mission to bring down the GHG emissions through using renewable energy resources.  Through our expertise, we shall bring to the state the success of renewable energy similar to that the country witnessed in the telecom sector.”

This project would entail an estimated investment of Rs 600 crore.

Punjab has the advantage of 300 sunny days and estimated potential of solar energy at 4-7 KWh/Sq.mtr of solar insolation levels.  The state government aims to tap this resource for strengthening power infrastructure in the State by setting up Solar Energy based power projects so as to save the depleting resources for our future generation and to combat global warming, fast depleting conventional sources of energy and resultant increased environmental pollution and combat climate change.

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