Acme Solar’s stock rose 4% in early trading as the company secured a 250 MW Firm & Dispatchable Renewable Energy (FDRE) project in NHPC’s latest e-reverse auction held on December 10, 2024. The winning bid was at an attractive tariff of INR 4.56 per unit.
This milestone project includes a green-shoe option, potentially doubling its capacity to 500 MW, aligning with Acme Solar’s growth strategy. With this addition, the company’s total operational capacity now reaches 6,970 MW.
The auction, aimed at procuring 1,200 MW of renewable energy with integrated Energy Storage Systems (ESS), emphasizes assured peak power supply for four hours daily using solar, wind, and battery storage technologies. Acme Solar’s success in this auction highlights its leadership in India’s renewable energy sector.
Acme Solar shares opened at ₹279.00, touching a high of ₹279.95 and a low of ₹276.00 during the trading session. The stock remains close to its 52-week high of ₹292.40.
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