ACME Solar Subsidiary Expands Wind Power Capacity in Gujarat

ACME Solar Holdings Limited 's subsidiary, ACME Eco Clean Energy Private Limited, has made significant progress in its wind power project in Gujarat. The company recently commissioned the second phase of its 100 MW wind power project, adding 16 MW of capacity to its existing operations.

Project Details

The latest commissioning brings the total operational capacity of the project to 44 MW, marking a substantial step towards the full 100 MW target. The wind power project is located in Village Titoda, Taluka Sayla, District Surendaranagar, Gujarat.

Commissioning Process

The commissioning of the second phase has been witnessed and confirmed by officials from two key agencies:

Gujarat Energy Development Agency (GEDA)
Paschim Gujarat Vij Company Limited (PGVCL)

A formal certification from these authorities is expected to be issued shortly, officially documenting the successful commissioning of this phase.

Project Progress

Phase	Capacity Commissioned	Total Project Capacity
Phase 1	28.00 MW	100.00 MW
Phase 2	16.00 MW	100.00 MW
Total Commissioned	44.00 MW	100.00 MW

Implications for ACME Solar Holdings

This development represents a significant milestone for ACME Solar Holdings Limited, showcasing the company's commitment to expanding its renewable energy portfolio. The progressive commissioning of the wind power project aligns with India's growing focus on clean energy and may contribute to the company's strategic positioning in the renewable energy sector.

As the project continues to advance towards its full capacity, investors and industry observers will likely keep a close watch on ACME Solar's progress and its potential impact on the company's overall performance in the renewable energy market.

The company's disclosure of this development, in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrates its commitment to transparency and keeping stakeholders informed of material developments.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.88%	+7.37%	-10.53%	-6.41%	-15.94%	-9.81%

ACME Solar Holdings subsidiary, ACME Aklera Power Technology Private Limited, has received a significant regulatory boost in the form of a INR 47.40 crore compensation from the Rajasthan Electricity Regulatory Commission (RERC). This decision marks a notable development in the renewable energy sector, particularly for solar power projects facing regulatory changes.

Compensation Details

The compensation awarded to ACME Aklera covers several key areas:

Component	Description
Basic Customs Duty	Compensation for duty on solar cells
GST Increase	Coverage for GST hike from 5% to 12%
Carrying Costs	Additional financial burden due to regulatory changes

Impact on Project Revenue

The regulatory decision has significant implications for ACME Aklera's 250 MW solar project:

Additional Revenue: 3.5% increase over 15 years
Distribution Mechanism: Annuity-based at 9% discount rate

This compensation structure ensures a steady flow of additional income for the project, potentially improving its long-term financial viability.

Significance for Renewable Energy Sector

The RERC's decision is more than just a financial win for ACME Aklera. It sets a precedent for regulatory certainty in the renewable energy sector, which could have far-reaching implications:

Investor Confidence: Such rulings may boost investor confidence in renewable energy projects.
Risk Mitigation: It demonstrates regulatory bodies' willingness to address unforeseen financial burdens due to policy changes.
Industry Standard: This could potentially become a benchmark for similar cases across India's renewable energy landscape.

As the renewable energy sector continues to grow and evolve, regulatory decisions like this play a crucial role in shaping the industry's future. They not only provide financial relief to individual projects but also contribute to the overall stability and attractiveness of the sector for future investments.