Acme Solar Holdings Limited has informed the Exchange about Commencement of commercial production/operations
ACMESOLAR · price
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ACME Solar's wholly-owned subsidiary ACME Sikar Solar Private Limited has commissioned the final 60 MW of its 300 MW solar project in Bikaner, Rajasthan, completing the full project. With this, the company's total operational renewable energy capacity has increased to 2,890 MW, with another 4,080 MW in various stages of implementation out of a total portfolio of 6,970 MW. The Bikaner project, spread across ~1,300 acres, is expected to generate around 780 million units of electricity annually at a tariff of INR 3.05 per unit under the SECI-ISTS XVIII scheme, with the tariff adopted by CERC and PPA signing expected soon. The company also commissioned a maiden 50 MW wind project in Shapar, Gujarat during the same quarter under a 25-year PPA with GUVNL.
Positive operational milestone demonstrating execution capability and capacity build-up; the 300 MW addition (~10% lift in operational capacity) should support future revenue once the SECI PPA is signed. Investors should watch for the PPA execution and quarterly generation numbers as the next catalysts.