ACME Solar said it has emerged as the developer for 30 MW solar PV power projects at the bid-opening event at Raipur under RFP floated by Chhattisgarh State Power Distribution Company Limited (CSPDCL) on April 01, 2014.
The selected developer would sign 25 year long PPA with the agency on the uniform tariff submitted in the bid.
Commenting on the win, Manoj Kumar Upadhyay, CEO, ACME Solar said, “With this addition, our solar power portfolio has reached 180 MW and we are on way to generate 1000 MW by year 2017. We thank the Chhattisgarh State Authorities and look forward for support from all stakeholders to help us in achieving the dream of making Chhattisgarh a model state for energy-efficiency.”
This project would entail an estimated investment of $ 40 mm/ Rs. 240 crores, or about $1.33 per watt of installed capacity.
As per Chhattisgarh State Regulatory Commission order dated September 18, 2013 the distribution licensee shall prepare a plan for procurement of power from RE source under its long term power procurement plan so as to comply with minimum RPO target of 6.75% (of total consumption) by FY 2014-15.
ACME Solar is a three-way joint venture between ACME Cleantech Solutions Limited, EDF Energies Nouvelles (EDF EN), the renewable energy arm of French state-run electricity utility Électricité de France S.A., and Luxembourg-based natural resources saving group EREN.
The ACME Group provides batteries and other energy management solutions, largely to telecom operators.
ACME products are installed over 1,50,000 telecom sites across the globe, the company said.
Operating in Europe and North America, EDF Energies Nouvelles is a market leader in green electricity production, with a portfolio of 6,661 MW of gross installed capacity. With a development focused on wind and solar photovoltaic energy, the Company recently entered new promising markets: Israel, Morocco, South Africa and Poland, and is expanding its business in offshore wind energy. The Company is also present in other segments of the renewable energy market: marine energy, biogas, biomass and small hydro as well as in distributed energies.
Founded in 2012 by Pâris Mouratoglou and David Corchia, EREN is the first group dedicated to saving natural resources. Through its various subsidiaries, EREN designs, manufactures and owns equipment allowing its customers and partners to rationalize their consumption of energy resources and other natural resources. EREN is also active in the field of wind and solar renewable energies.