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ACME wins 250 Mw solar power project under MSEDCL tender

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ET Energyworld
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ACME Group today announced it has won a 250 Megawatt (Mw) Solar Photo Voltaic (PV) project in a reverse auction invited by Maharashtra State Electricity Distribution Co (MSEDCL) on 14 May 2018. 

The total capacity allotted under the reverse auction was 1,000 Mw under Build Own and Operate (BOO) model where the successful developer can set up the solar project anywhere in India and supply power to MSEDCL under 25 year Power Purchase Agreement (PPA).

"This selection process concluded at a very competitive tariff wherein ACME was allotted largest capacity i.e. 250 MW at a tariff of Rs 2.72 per kilowatt hour (kWh) out of the total tender capacity of 1,000 Mw," the company said in a statement. 

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Under the terms of the tender, the project has to be commissioned within 15 months from PPA signing. It would require investment of around $250 million.

"With this won capacity, ACME’s total portfolio will increase to 2,300 MW and it plans to execute this project in self-execution mode," the company said. 

ACME Solar is an independent power producer, which builds solar power plants. The company's total operating capacity of solar projects stands at over 1,500 Mw in India.

Author: sustainabilityoutlook
Country: India
Industry Term: SPV PPA
Organization: MSEDCL