India’s ACME wins 200 MW of solar in Andhra Pradesh Telangana

May 6, 2016 12:26 CEST by Ivan Shumkov

May 6 – The ACME Group has won the rights to develop 200 MW of solar projects in India’s Andhra Pradesh and Telangana states through separate tenders held by the the Solar Energy Corporation of India (SECI) and NTPC Ltd (BOM:532555), respectively.

In Andhra Pradesh, ACME won the largest share in a 400-MW auction, or 150 MW, at a fixed tariff of INR 4.43 (USD 0.066/EUR 0.058) per kWh in addition to viability gap funding of INR 5.5 million per MW, it said on Friday. At the same time, the group was awarded 50 MW in a 350-MW tender held by NTPC in Telangana. The group placed a bid for a tariff of INR 4.67/kWh there for a period of 25 years.

Both plants will be built within 13 months from the date of signing of the respective power purchase agreements (PPA) with SECI and NTPC.

ACME noted that the two latest awards expand its portfolio to 1,519 MW, including 490 MW in Telangana, 310 MW in Andhra Pradesh, 104 MW in Punjab and over 100 MW in Rajasthan, along with projects in some other states. The group wants to commission 960 MW by March 2017.

(INR 100 = USD 1.502/EUR 1.314)

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