ACME Solar Secures 130 MW REMCL Renewable Energy Contract
Filing Summary
ACME Solar Holdings Limited has been awarded a contract for 130 MW in the Railways Energy Management Company Limited’s (REMCL) 1000 MW Round-the-Clock Renewable Energy tender. The winning bid was set at Rs 4.35 per unit. The Indian Railways will directly enter into a Power Purchase Agreement with ACME Solar. The project requires a minimum annual availability of 75% for the first three years, increasing to 85% thereafter. ACME Solar will commission the project within 30 months of signing the agreement.
ACME Solar Holdings Limited has emerged as the winning bidder for a 130 MW capacity in the Railways Energy Management Company Limited’s (REMCL) 1000 MW Round-the-Clock Renewable Energy project. The auction was conducted through an e-Reverse auction process. ACME Solar’s winning bid was Rs 4.35 per unit. The Letter of Award is expected to be issued within the timelines specified in the tender document.
The project involves the procurement of power by the Indian Railways, which requires a consistent power supply throughout the day. The Railways will enter into a direct Power Purchase Agreement (PPA) with ACME Solar, eliminating the need for intermediaries. The tender mandates a minimum annual availability of 75% for the first three years from commissioning, increasing to 85% thereafter.
ACME Solar is required to supply renewable energy complemented with dispatchable sources and/or Energy Storage Systems (ESS) from ISTS-connected projects. This ensures firm, round-the-clock clean power. The project will be commissioned within 30 months of signing the PPA. The availability of land and connectivity within ACME’s portfolio is expected to expedite the commissioning process.
About ACME Solar: ACME Solar Holdings Limited is a leading integrated renewable energy company with a diversified portfolio that includes solar, wind, storage, FDRE, and hybrid solutions. The company has an operational contracted capacity of 2,934 MW and an under-construction contracted capacity of 4,456 MW, including 13.5 GWh of BESS installation. ACME Solar manages end-to-end development and operations and maintenance of its plants, focusing on delivering projects in a time and cost-effective manner.