ACME to invest Rs 600 crore in Punjab

ACME Group, India's leading solar power player in India, today announced that it has emerged as the largest developer for successfully securing 74 MW of solar PV power projects under the Punjab State Solar PV Tender of 250 MW capacities, issued by Punjab Energy Development Agency.

As per the RFP document, ACME would be signing two PPAs of 24 MW and 50 MW capacity, at a tariff of Rs. 7.16/ kwh and Rs. 7.06/ kwh respectively.

Commenting on this momentous occasion, Mr. Manoj Kumar Upadhyay, Founder & Chairman, ACME said, "We take pride in announcing our partnership with the Punjab State Government as the largest solar power developer in the State and help them in their endeavor to fuel the Solar Revolution in the country. We thank the Punjab Electricity Development Agency and offer our complete support to achieve their mission to bring down the GHG emissions through using renewable energy resources. Through our expertise, we shall bring to the state the success of renewable energy similar to that the country witnessed in the telecom sector."

This project would entail an estimated investment of Rs 600 crore.

Source : Equity Bulls

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