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ACME Solar Shares in Focus: Signed PPA With NHPC For 680 MW Project

Written by: Sachin GuptaUpdated on: Jan 28, 2025, 3:36 PM IST
ACME Solar signed a Power Purchase Agreement (PPA) with NHPC Limited for a Firm & Dispatchable Renewable Energy (FDRE) project.
ACME Solar Shares in Focus: Signed PPA With NHPC For 680 MW Project
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On January 28, 2025, ACME Solar shares experienced a significant dip, dropping over 6%. The stock reached a day low of ₹167.55 at 11:45 AM, down from an opening price of ₹186.15. The decline in ACME Solar shares occurred despite its announcement of a key development in its renewable energy projects.

Signing of PPA with NHPC Limited

ACME Solar announced the signing of a Power Purchase Agreement (PPA) with NHPC Limited for a Firm & Dispatchable Renewable Energy (FDRE) project. The project will have a capacity of 680 MW and is part of the broader effort to accelerate India’s transition to clean energy. This agreement marks a significant milestone for ACME Solar as it continues to strengthen its position in the renewable energy sector.

ACME Solar was awarded the 680 MW project under the FDRE tender of 1400 MW issued by NHPC. The project will be developed across various locations in India, including Gujarat, Madhya Pradesh, Karnataka, and Rajasthan. The initiative will incorporate advanced technology and hybrid renewable energy solutions, enhancing both efficiency and sustainability.

Hybrid Energy System and Commitment to Clean Energy

The PPA highlights ACME Solar’s commitment to India’s clean energy objectives. The project will integrate solar, wind, and battery storage technologies, setting a new benchmark for hybrid energy systems. This combination will not only contribute to a greener future but also support India’s broader environmental goals.

With a minimum annual Capacity Utilisation Factor (CUF) guarantee of 40%, the project is expected to meet 90% of the promised energy output during peak hours. This will significantly help reduce greenhouse gas (GHG) emissions and further solidify ACME Solar’s role in promoting sustainable energy solutions in India.

ACME Solar’s ongoing success in the renewable energy sector highlights its leadership in achieving India’s energy goals. The company’s continued innovation and project developments reinforce its position as a key player in the transition to clean energy.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 28, 2025, 11:58 AM IST

Sachin Gupta

Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.

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