Acme Solar Holdings Limited has informed the Exchange about Commencement of commercial production/operations
ACMESOLAR · price
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ACME Solar, through its wholly owned subsidiary ACME Sikar Solar Private Limited, has commissioned the first phase of 52.5 MW out of a 300 MW solar power project in Bikaner, Rajasthan. With this, the company's total operational renewable generation capacity has increased from 2,540 MW to 2,592.5 MW. The remaining capacity of the 300 MW project will be commissioned in phases. The project, spread across ~1,300 acres and financed by PFC Limited, is expected to generate around 780 million units of clean energy annually once fully commissioned. Power from this project will be sold on power exchanges on a merchant basis. ACME Solar has a total portfolio of 6,970 MW, with 2,592.5 MW operational and 4,377.5 MW under implementation.
Capacity addition is positive for future revenue growth, but since the power will be sold on a merchant basis via power exchanges, earnings will depend on prevailing market prices rather than fixed tariffs. Investors should watch for further phasing of the remaining 247.5 MW of this project and overall capacity utilization trends.