ACME Solar Holdings Limited has announced a significant development in its business operations. The company's wholly-owned subsidiary, ACME Greentech Eighth Private Limited, has been granted a Category 'IV' trading license for inter-state electricity trading by the Central Electricity Regulatory Commission (CERC) in New Delhi.

License Details

The license, which is valid for 25 years, allows ACME Greentech Eighth Private Limited to engage in inter-state electricity trading across India. This strategic move positions the company to potentially generate additional revenue through trading margins in the electricity market.

Key Information

Potential Impact

The acquisition of this license is a strategic move for ACME Solar Holdings. It enables the subsidiary to:

1. Undertake electricity trading operations across state borders in India.
2. Generate revenue through trading margins, which represent the difference between the buying and selling prices of electricity.

This development may open up new revenue streams for the company, potentially enhancing its market position in the energy sector.

Regulatory Compliance

ACME Solar Holdings has duly informed the stock exchanges about this development, in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

As the renewable energy sector in India continues to evolve, this license could provide ACME Solar Holdings with additional flexibility in its operations and potentially contribute to its growth strategy in the coming years.

ACME Solar Holdings Limited (ACME Solar) has taken a significant step in expanding its renewable energy portfolio by commissioning the first phase of a 28 MW wind power project in Surendaranagar, Gujarat. This development marks an important milestone in the company's commitment to clean energy and its contribution to India's renewable energy goals.

Project Details

The newly commissioned 28 MW wind power project is part of a larger 100 MW capacity planned by ACME Eco Clean Energy Private Limited, a subsidiary of ACME Solar. The project is strategically located in one of India's regions with the highest wind resources, positioning it as a valuable asset in the company's renewable energy portfolio.

Key Highlights

Project Implementation

The project's commissioning was witnessed and confirmed by officials from the Gujarat Energy Development Agency (GEDA) and Paschim Gujarat Vij Company Limited (PGVCL). A formal certification is expected to be issued shortly.

The clean energy generated from this project will be pooled at a 33/220 kV pooling station and stepped up for evacuation to the Shapar sub-station using a dedicated single circuit 220 kV transmission line. This project will share the sub-station infrastructure with ACME Solar's previously commissioned 50 MW wind power project at the same location.

ACME Solar's Growing Portfolio

This new wind power project adds to ACME Solar's diverse renewable energy portfolio, which includes solar, wind, storage, and hybrid solutions. The company's integrated approach, featuring in-house EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) divisions, allows for efficient project delivery and operation.

ACME Solar's commitment to renewable energy is further evidenced by its recent activities in the sector. The company signed a 25-year Power Purchase Agreement with Tata Power Company Limited for a 50 MW Firm and Dispatchable Renewable Energy (FDRE) project. This project, combining solar and battery energy storage systems, was awarded at a tariff of INR 4.43 per unit.

As the renewable energy sector in India continues to grow, ACME Solar's expanding portfolio and strategic projects position it as a key player in the country's transition to clean energy sources.