ACME to develop 74 MW of Solar PV Projects with an investment of Rs 600 Crs in Punjab

 

ACME Group, India’s leading solar power player in India, 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.

Punjab has the advantage of 300 sunny days and estimated potential of solar energy at 4-7 KWh/Sq.mtr of solar insolation levels.  The state government aims to tap this resource for strengthening power infrastructure in the State by setting up Solar Energy based power projects so as to save the depleting resources for our future generation and to combat global warming, fast depleting conventional sources of energy and resultant increased environmental pollution and combat climate change

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Bid Results of 250 MW Punjab Solar Tender - Indiabulls, ACME, Solaire Direct, Azure bag contracts

 

Crocus Infra of the Indiabulls group, Delhi-based ACME, French company Solaire Direct, and the American firm, Azure Power, are among those to have won mandates to put up solar power projects in Punjab.

The Delhi-based ACME group has won rights to put up 74 MW solar power projects in a bidding process put through by the Punjab Electricity Development Agency (PEDA). It has won 24 MW bidding a tariff ofRs. 7.16 a kWhr and another 50 MW for Rs. 7.06 kWhr.

The group will put up these projects with an investment of Rs. 600 crore and the electricity will be sold to the state distribution company at these tariffs.

With this, ACME’s total solar projects under development in the country have crossed the 700-MW-mark.

• Crosus picked up 78 MW (24 MW for Rs. 7.42; 50 MW for Rs. 7.56 and 4 MW for Rs. 7.45).
• Solaire Direct got up 54 MW (for Rs. 6.88)
• Azure Power 28 MW (24 MW for Rs. 7.19 and 4 MW for Rs. 7.33)

PEDA had issued a tender to buy solar electricity from 250 MW of projects. The total capacity was divided into three categories, with maximum bid-able capacity of 24 MW, 50 MW and 5 MW by a single company under each category. ACME won the highest allowed in the first two categories.

This is the second tender of PEDA. The first was in 2013, when the state selected companies to build 300 MW of solar power projects. Then, 27 companies won mandates to put up solar plants of 251 MW and sell electricity at tariffs arrived at through the bidding process. Back then, all but four of the 27 quoted tariffs higher than Rs. 8.24. Of the four, only two, of 2 MW each, were below Rs. 7.50, one of them Rs.7.47 and the other Rs. 7.20.

Punjab is a state of 50,000 sq km land, home to 27.7 million Punjabis. The state enjoys solar radiation of 5-5.5 kWhr/metre square per day.

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Acme ties up with French RE Major EDF Energies for large scale solar projects in India...

 

ACME Cleantech Solutions, an energy generation, management and conservation company, today announced that it would partner French renewable energy major EDF Energies Nouvelles (EDF EN) to set up large scale solar projects in India.

EDF Energies Nouvelles is rolling out its operations in a new country offering strong potential, with a partnership with Indian company ACME Cleantech Solutions Limited to create a joint venture based in India. EDF Energies Nouvelles holds a 25% stake in the company, ACME Solar Energy Private Limited, which will focus on the development, construction and operation of solar power projects in India.

Based in New Delhi, Acme Solar Energy Private Limited is owned by three complementary partners:

• ACME Cleantech Solutions Limited, an Indian company with international operations specialising in new energy solutions, communications and environmental services, holds a 50% stake;
• EDF Energies Nouvelles, a major international player in renewable energy and photovoltaic solar power, holds 25%;
• EREN, the first group dedicated to saving natural resources, also holds 25% of the company.
  

Positioned primarily in the photovoltaic power market, ACME Solar Energy Private Limited has already begun construction of a 30 MW solar power plant in Madhya Pradesh in the centre of India and has a portfolio of 200 MW of projects at various stages of completion.

India presents considerable potential for EDF Energies Nouvelles to expand its solar energy operations. The country has a high level of sunshine and a recurring shortage of electricity generation. With current installed capacity of 2 GW[1], the country is aiming to achieve capacity of around 22 GW by 2022.

“This promising new partnership constitutes a wonderful opportunity for EDF Energies Nouvelles. It will enable us to establish our position in the solar power market in a country with a high level of demand for renewable energy and presenting considerable potential in terms of resources, with the support of a local company,” comments Antoine Cahuzac, Chief Executive Officer of EDF Energies Nouvelles.

India is the 18th country in which EDF Energies Nouvelles is developing its presence, and its first foothold in southern Asia.

About EDF Energies Nouvelles
Operating in Europe and North America, EDF Energies Nouvelles is a market leader in green electricity production, with a portfolio of 6,358MW 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. EDF EN manages renewable energy projects’ development and construction as well as operation and maintenance for its own accord and for third parties. EDF Energies Nouvelles is a subsidiary of the EDF Group and its renewable energy arm.

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ACME to partner with SAMSUNG for the development of solutions related to Solar Power Projects...

 

ACME, a leader in energy management and innovative solutions for alternate energy sector with presence in solar power generation, today said it had signed an exclusive and strategic agreement with South Korean energy storage system giant Samsung SDI, part of the Samsung, to manufacture and marketing of lithium ion batteries in telecom, solar power, defence sectors and other allied industries in India and the African continent.

As per the agreement, ACME will be the Sole Partners of Samsung SDI in India and Africa markets, has the exclusive right to use Samsung SDI’s technology and will aim sale of upto 110 MWh of lithium ion batteries by FY 2016 in the above two regions.

“Acme has been a pioneer in introduction of innovative and disruptive energy technologies to the Indian industry since its inception, to reduce energy consumption, carbon emission and diesel usage. In line with our tradition, we are taking major steps forward to solve one of the biggest challenges of the energy industry by having a right storage solution from Kilo Watt to Mega Watt class. This will help users to replace their diesel generators, invertors and at the same time help utilities to schedule their renewable energy generation as per the demand.

Samsung SDI being world’s biggest Lithium Ion Battery manufacturer and leader in technology and innovation, is our partner for manufacturing and marketing Energy Storage System (ESS) solution in India and Africa. We believe the unique strength of the two partners will be able to create and offer disruptive and right solutions for the Indian market to resolve issues related to back up power and distributed generation,” said Mr Manoj Kumar Upadhyay, Chairman and Managing Director, ACME.

Mr KH Kim, Vice President, Marketing and Sales, Samsung SDI said,” By this strategic alliance with ACME, Samsung SDI will make a milestone to expand our business of the energy storage system in India and Africa market. As a leading company of LIB-ESS industry, we will keep continuing to explore the market in India and Africa. We believe, with Samsung’s quality, capability and ACME’s network, we can reach our goal to become No.1 in this LIB-ESS business.”

The battery industry in India has been registering a CAGR of around 20% over the last few years. On the global front, the last decade has observed the surge in usage of Li-Ion batteries with while that of Ni-Cd, NiMH and Lead Acid batteries has been near stagnant. As per an estimate by Frost & Sullivan, the global market for Li-Ion segment was around $11.7 bn in year 2012 with 64% share of consumer batteries i.e. mobile phone, cameras, laptop, tablet PC and power tools, etc. This is expected to grow to double by 2016 and “the share of consumer batteries in the overall segment to be reduced to 52% and industrial usage to grow multifold”

In India, this technology will help several industries including telecom, utilities, defense, off-grid, logistics and many more.

The ESS industry will also play a major role combined with the green energy solutions to make them a reliable and viable hybrid energy source unlike conventional solar and other renewable energy options that work as per the natural clock. With the latest technological innovations, the lesser need for recharge and longer duration back-up will serve purpose by bringing contiguity in its output.

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ACME Group plans Rs 9,000 cr investments in solar power space...

 

Embarking on an ambitious business expansion, energy solutions provider ACME Group plans to invest as much as Rs 9,000 crore to develop solar power projects in the coming years.
 
The group, which already has significant presence in the telecom space, aims to set up solar power projects having total capacity of 1,000 Mw in the country.
 
"In the next four to five years, we will be building around 1,000 Mw of solar power projects. The investment will be about Rs 8,000 to 9,000 crore," ACME Group Chairman and Managing Director Manoj Upadhyay told PTI.
 
At present, the group has about 18 Mw of installed solar generation capacity.
 
"By March (next year), we will have around 100 Mw of solar power generation capacity," said Upadhyay, who is also Founder of the group.
 
Primarily focused on energy generation, management and conservation areas, ACME Group has presence in 16 overseas geographies including Singapore, Mauritius and Malaysia.
 
The group's activities are spread across telecom, solar and defence segments, among others.
 
Against the backdrop of rising energy demand, solar segment provides good opportunities for power generators.
 
The government's Jawaharlal Nehru National Solar Mission (JNNSM), launched in 2010, aims to add 20,000 Mw of grid-connected solar power by 2022.

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Update on Madhya Pradesh Solar Power Bids…

Power India found that Welspun has emerged one among the four winning bidders and having largest bidded capacity for solar projects in Madhya Pradesh.

After the formal award of the project, Welspun Solar MP Pvt Ltd will put up one solar photo voltaic project of 100 MW and another of 25 MW capacity.

 

The other winning bidders are:

• Alpha Infra Properties 20 MW at Rs 7.90 per unit (the least of the four),
• Welspun 125 MW at Rs. 8.05 per unit
• Simplex 10 MW at Rs 9.59 per unit
• Acme Telepower 45 MW for Rs 12.45 per unit (the highest tariff).

 

Typically, a solar power project costs Rs 10 crore a MW.

 

Madhya Pradesh also followed a ‘reverse bidding' process under which it would award projects to those who offer to sell power at the best (least) rates. The MP programme is for 200 MW, which means it would award projects up to a total of 200 MW.

 

Madhya Pradesh received bids for 430 MW for its tender for 200 MW, from 12 developers, including known names such as Azure (which submitted a bid for 5 MW), BGR Energy (10 MW), Essel Infra Properties (30 MW) and IL&FS (50 MW).

 

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More Literature on this topic:

• http://www.thehindubusinessline.com/companies/article3408972.ece

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