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ACME Group wins 160 mw PV projects in AP
ACME Cleantech Solutions, a renewable energy developer in India, was the successful bidder in Hyderabad’s opening auction for 160 mw photovoltaic projects presented by Andhra Pradesh Southern Power Distribution Company Limited (APSPDCL).
ACME Cleantech Solutions, a renewable energy developer in India, was the successful bidder in Hyderabad’s opening auction for 160 mw photovoltaic projects presented by Andhra Pradesh Southern Power Distribution Company Limited (APSPDCL). By the terms of the request for proposal (RFP), as winner of the projects, ACME Group will sign a 25-year Power purchase agreement (PPA) with APSPDCL.
The 160mw project will span over three districts in Andhra Pradesh, including Anantapur, Kurnool and Chittoor. The estimated cost is Rs 1,250 crore and ACME Group says that it plans to fund about $ 50 million of the cost with the left over funding they received from the Asian Development Bank for ACME Group’s Rajasthan projects.
Founder and chairman of ACME Group, Manoj Kumar Upadhyay, said, "With this addition, our solar power portfolio has reached 422.5 mw and we are on way to generate 1,000 mw by 2017. We thank the Andhra Pradesh authorities for their initiatives and look forward to support from all stakeholders to help us in achieving the dream of bringing power to every house by 2019."
