ACME Solar Holdings has entered into a power purchase agreement with the Solar Energy Corporation of India (SECI) for the supply of hybrid solar power. ACME will supply 150 MW hybrid solar power to SECI. The company has formed ACME Platinum Urja Private Limited, a project-specific special-purpose vehicle (SPV) for this project.
The project will be connected to an inter-state transmission system (ISTS) at Tumkur-II substation in Karnataka. The company has already applied for the same with the Central Transmission Utility. ACME Solar had been awarded a total capacity of 350 MW by SECI. This 150 MW is part of the same.
In October 2024, ACME Solar Holdings, was selected as a winner in Solar Energy Corporation of India’s (SECI) auction to develop 600 MW interstate transmission system (ISTS)- connected wind-solar hybrid power projects (Tranche IX). ACME was awarded 300 MW at a tariff of Rs 3.25 per kWh.
In July 2024, ACME Solar submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an IPO valued at Rs 30 billion, with each share priced at Rs 2.
