ACME Solar wins 130 MW round-the-clock renewable energy tender from Railways

New Delhi, Nov 24 (PTI) ACME Solar Holdings on Monday said it has secured the winning bid for a 130 MW capacity in a tender floated by Railways (REMCL) for round-the-clock renewable energy.

The company's winning bid was Rs 4.35 per unit, according to a company statement.

According to the statement, ACME Solar Holdings Ltd (ACME Solar) has emerged as the winning bidder for 130 MW under the e-reverse auction conducted by REMC Ltd's (REMCL) 1,000 MW round-the-clock (RTC) renewable energy project tender.

The bid is for the procurement of power by end user -- Indian Railways, which requires a 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.

The bid and tariff discovered demonstrate the competitiveness of renewable energy to provide high CUF (capacity utilisation factor) power throughout the day by co-locating solar/wind and battery at the most competitive price, it stated.

As part of the winning bid, ACME Solar will be required to supply renewable energy complemented with dispatchable sources and/or energy storage systems (ESS) from ISTS (Inter-State Transmission System) connected projects to ensure firm and round-the-clock clean power in line with the obligations laid out in the tender document.

It mandates a minimum annual availability of 75 per cent for the first three contractual years from commissioning and 85 per cent thereafter.

This will necessitate a multiplier of contracted capacity of solar and battery installation, with an optimal amount of complementary wind power as and when required. ACME Solar will commission this project within 30 months of signing the PPA.

The commissioning will be expedited by the availability of land and connectivity within the ACME portfolio.

ACME Solar Holdings is a leading 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.

With an in-house EPC and O&M division, the company offers end-to-end development and O&M of the plants, thereby delivering projects in a time and cost-effective manner while ensuring best-in-class operating performance evident in its industry-leading CUF and operating margins. PTI KKS KKS BAL BAL