ACME Solar Holdings Ltd (ACME Solar) has emerged as the winning bidder for 130 MW under REMCL’s tender for 1 GW of round-the-clock (RTC) power from renewable energy projects backed with or without energy storage. It the capacity at INR 4.35/kWh. The Letter of Award (LOA) is expected to be awarded within the timelines prescribed in the tender document.
The power generated will be procured by Indian Railways, which requires consistent power profile throughout the day due to its unique load requirements. The Railways will enter into a direct Power Purchase Agreement (PPA) with the winning bidders without any intermediary.
As part of this winning bid, ACME Solar will supply renewable energy complemented with dispatchable sources and/or energy storage systems (ESS) from ISTS-connected projects to ensure firm, round-the-clock clean power, in line with the obligations laid out in the tender document. The tender mandates a minimum annual availability of 75% for the first three contractual years from commissioning and 85% thereafter. This will require a combination of solar and battery installation with optimal amount of complementary wind power as and when required.
ACME Solar will commission this project within 30 months of signing the PPA. It expects the commissioning to be expedited by availability of land and connectivity already secured within its portfolio.
ACME Solar Holdings is an integrated renewable energy player with a diversified portfolio spanning solar, wind, storage, FDRE and hybrid solutions and an operational contracted capacity of 2,934 MW and under construction contracted capacity of 4,456MW including 13.5 GWh of BESS installation.
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