ACME, ReNew win 500 MW solar project in Maharashtra
POWER & RENEWABLE ENERGY

ACME, ReNew win 500 MW solar project in Maharashtra

ACME Solar Holdings and ReNew Solar Power won the Maharashtra State Electricity Distribution Company Limited (MSEDCL) solar auction to procure power from 500 MW of solar photovoltaic (PV) projects on a long-term basis.

ACME Solar Holdings won a capacity of 300 MW valuing Rs 2.42 kW per hour. Meanwhile, ReNew Solar Power won 200 MW valuing Rs 2.43 kW per hour.

The solar tender was oversubscribed by 3.5 GW and had received a great response from the bidders. In May, the state distribution company (DISCOM) had floated the tender to procure 500 MW of power from interstate or intrastate solar projects on a long-term basis.

MSEDCL officials said that the main reasons for such an enormous response are the absence of a ceiling tariff this time around, which was Rs 2.90 kW per hour prior. Lower earnest money deposit of Rs 400,000 per MW, which was Rs 500,000 per MW for Phase-V tender, and lower performance bank guarantee of Rs 800,000 per MW, which was Rs 1.4 million per MW for the earlier tender.

The tender of MSEDCL for the long-term procurement of power from 500 MW of intra-state grid-connected solar power tenders was undersubscribed earlier.

In the case of new solar projects, MSEDCL will enter into a power purchase agreement (PPA) to purchase solar power for 25 years from the listed commercial operation date with the selected bidders.

In May this year, a Tata Power subsidiary, TP Saurya, was announced as the winner for setting up 250 MW of grid-connected solar PV projects at the Dondaicha Solar Park in Dhule in Maharashtra State Power Generation Companies (MAHAGENCO) auction.

Image Source


Also read: ACME Solar enters deal with Brookfield Renewable for solar project

Also read: Acme Solar withdraws petition to cancel PPAs signed for Rajasthan projects

ACME Solar Holdings and ReNew Solar Power won the Maharashtra State Electricity Distribution Company Limited (MSEDCL) solar auction to procure power from 500 MW of solar photovoltaic (PV) projects on a long-term basis. ACME Solar Holdings won a capacity of 300 MW valuing Rs 2.42 kW per hour. Meanwhile, ReNew Solar Power won 200 MW valuing Rs 2.43 kW per hour. The solar tender was oversubscribed by 3.5 GW and had received a great response from the bidders. In May, the state distribution company (DISCOM) had floated the tender to procure 500 MW of power from interstate or intrastate solar projects on a long-term basis. MSEDCL officials said that the main reasons for such an enormous response are the absence of a ceiling tariff this time around, which was Rs 2.90 kW per hour prior. Lower earnest money deposit of Rs 400,000 per MW, which was Rs 500,000 per MW for Phase-V tender, and lower performance bank guarantee of Rs 800,000 per MW, which was Rs 1.4 million per MW for the earlier tender. The tender of MSEDCL for the long-term procurement of power from 500 MW of intra-state grid-connected solar power tenders was undersubscribed earlier. In the case of new solar projects, MSEDCL will enter into a power purchase agreement (PPA) to purchase solar power for 25 years from the listed commercial operation date with the selected bidders. In May this year, a Tata Power subsidiary, TP Saurya, was announced as the winner for setting up 250 MW of grid-connected solar PV projects at the Dondaicha Solar Park in Dhule in Maharashtra State Power Generation Companies (MAHAGENCO) auction. Image Source Also read: ACME Solar enters deal with Brookfield Renewable for solar project Also read: Acme Solar withdraws petition to cancel PPAs signed for Rajasthan projects

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?