ACME Solar has emerged as the winning bidder for a 130 MW renewable energy project under an e-Reverse auction by REMC Limited (REMCL). The winning bid was Rs 4.35 per unit. This project will supply power to Indian Railways, ensuring a consistent power profile. A Letter of Award is expected soon, marking a significant step in ACME’s renewable energy portfolio.
Securing Renewable Energy Project
ACME Solar has been selected as the winning bidder for a 130 MW Round-the-Clock (RTC) Renewable Energy project tendered by REMC Limited (REMCL). The project was awarded through an e-Reverse auction. The company’s bid was Rs 4.35 per unit, demonstrating its competitive pricing.
Details of the Agreement
The project is designed to supply power to Indian Railways, which needs a consistent power profile throughout the day. ACME Solar will enter into a direct Power Purchase Agreement (PPA) with the Indian Railways. The project underscores the competitiveness of renewable energy through co-location of solar, wind, and battery resources.
Project Requirements and Timeline
The project requires ACME Solar to supply renewable energy complemented with dispatchable sources and/or Energy Storage Systems (ESS) from ISTS-connected projects. It mandates a minimum annual availability of 75% for the first three contractual years from commissioning, increasing to 85% thereafter. The company plans to commission the project within 30 months of signing the PPA.
ACME Solar’s Capabilities
ACME Solar has an operational contracted capacity of 2,934 MW and an under-construction contracted capacity of 4,456 MW, including 13.5 GWh of BESS installation. Its in-house EPC and O&M division allows for end-to-end project development and operation.
Source: BSE