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ACME Sun Power secures Rs 37.53 billion loan from REC

India, News

ACME Sun Power, a subsidiary of ACME Solar Holdings, has secured a Rs 37.53 billion term loan from REC Limited to develop a 320 MW firm and dispatchable renewable energy (FDRE) project in collaboration with SJVN. The project aims to provide round-the-clock power, assisting distribution companies in meeting renewable purchase and energy storage obligations. Solar capacity will be developed in Jaisalmer, Rajasthan, while wind sites are planned in Bhuj and Jam Khambhaliya, Gujarat. A power…

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ACME Solar and Hexa Climate Solutions win bids for NTPC’s FDRE projects

India, News

ACME Solar Holdings and Hexa Climate Solutions have secured contracts for 400 MW and 300 MW firm and dispatchable renewable energy (FDRE) projects, respectively, as part of a 760 MW bid invited by NTPC.  Industry sources report that ACME Solar won its capacity at a tariff of Rs 4.69 per unit, while Hexa Climate Solutions secured 300 MW through a reverse auction. Avaada Energy Pvt Ltd won the remaining capacity in the bid, which opened…

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ACME Solar launches Rs 30 billion IPO

India, News

ACME Solar launched its initial public offering (IPO) today, November 6, 2024, valued at Rs 30 billion, with a price band of Rs 275 to Rs 289 per equity share. The IPO, open until Friday, November 8, 2024, requires a minimum bid of 51 shares, with additional bids in multiples of 51.  The offering includes a fresh issue of Rs 23.95 billion and a sale offer of Rs 5.05 billion by ACME Cleantech Solutions. An…

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ACME Solar signs PPA with SECI for 150 MW hybrid solar project

India, News

ACME Solar Holdings’ special purpose vehicle, ACME Platinum Urja, has signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a 150 MW hybrid solar project.  This is part of the 350 MW capacity awarded to ACME Solar by SECI. The project will include energy storage solutions (ESS) and will be connected to the inter-state transmission system via Tumkur-II substation in Karnataka. ACME Solar Holdings has also filed a draft red…

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Juniper, ACME, Sembcorp win SECI’s 600 MW Wind-Solar Auction

India, News

Juniper Green Energy, ACME Solar Holdings, and Sembcorp Green Infra have won Solar Energy Corporation of India’s (SECI) auction to develop 600 MW of interstate transmission system (ISTS)-connected wind-solar hybrid projects (Tranche IX). ACME secured 300 MW at a tariff of Rs 3.25 per kWh, while Juniper and Sembcorp were awarded 150 MW each, with Sembcorp’s tariff at Rs 3.26 per kWh. The tender, originally floated for 400 MW, was expanded to 600 MW. According…

Power Sector News Roundup for November 18, 2024

Power Bytes

Global: Green Nation unveils plans for 750 MW Whitestone Solar Farm in the UK. B&W secures a $246 million coal-to-natural gas conversion project for AES Indiana. Alcazar Energy signs an MoU for a 2 GW onshore wind farm in Egypt. India: Trilateral power flow from Nepal to Bangladesh via India begins. NTPC and ONGC establish a joint venture for renewable energy projects. RECPDCL invites bids for transmission system development in Madhya Pradesh. Chubu Electric increases…

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Insolation Energy secures Rs 714 million order for solar PV modules

India, News

Insolation Energy Ltd., via its wholly-owned subsidiary Insolation Green Energy Private Limited, has received a Rs 714 million purchase order from ACME Cleantech Solutions Private Limited.  The order is for the supply of solar PV modules. Recently, Insolation Energy won a contract valued at Rs 5 billion from Rajasthan Renewable Energy Corporation Limited (RRECL) to install 77 MW of rooftop solar power systems across Rajasthan. 

Power Sector News Roundup for November 8, 2024

Power Bytes

Global: European clean energy stocks fall amid Trump’s victory and policy concerns Global energy efficiency improvements lag behind COP28 targets: IEA Nigeria calls for bids to develop 4 GW gas-fired power plants Ireland’s EirGrid awards contracts for renewables integration technologies RWE chooses Thyborøn Port to build Denmark’s largest offshore wind farm EDF in talks to source nuclear power for 1 GW data centre projects in France Ireland releases geophysical data ahead of 900 MW offshore…

Power Sector News Roundup for November 6, 2024

Power Bytes

Global: Westbridge sells 75% stake in Alberta’s Sunnynook solar project to METLEN Emeren and Arpinge partner on 300MW battery storage portfolio in Italy EDF Renewables signs 20-year energy storage PPA with APS for 250 MW Beehive BESS UAE’s Nakheel and DEWA partner on 132 kV substation in Palm Jebel Ali Canada proposes 35% emissions cap on oil and gas sector by 2030 ACCIONA Energía acquires 300 MW of wind capacity in Texas FTC Solar to…

Power Sector News Roundup for October 21, 2024

Power Bytes

Global: Top European Union economies spend 42 billion euros annually on fossil-fuel company car subsidies, study finds European green electricity PPA prices fall 12.4% in Q3 2024, LevelTen Energy reports Neart na Gaoithe offshore wind farm generates first power for UK grid Hellenic Cables secures contract for Leading Light Wind project in the US deveritec GmbH and Wirepas launch new NIC for Wirepas 5G Mesh in Europe Lhyfe partners with KEYOU for hydrogen mobility in…