Acme Solar Holdings Private Limited has won two bids in SECI tenders to develop a total of 125 MW of solar PV capacity. Bids for the projects had been invited by SECI under the National Solar Mission Phase-II Batch-IV for a cumulative capacity of 275 MW to be executed at multiple solar parks in Uttar Pradesh.
Of the total capacity, the company won a 50 MW project in Gujrai Solar Park, Uttar Pradesh by quoting a tariff of Rs 3.38/kWh. The remaining 75 MW of capacity will be developed at the Parasan Solar Park in Uttar Pradesh. It won the bid by quoting a tariff of Rs 3.32/kWh.
For both the projects, ACME is likely to sign a 25 year PPA with SECI which will further sell power to Uttar Pradesh Power Corporation Limited (UPPCL). ACME will have 12 months from the effective date of the PPA to commission the project and the PPAs will be signed within one month of the issue of letters of intent (LoIs).
In May 2018, ACME had also won a bid to develop solar PV projects worth 250 MW capacity in an auction held by Maharashtra State Electricity Distribution Company Limited for the development of 1 GW of grid-connected solar power projects in Maharashtra.