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.
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.
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.
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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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