ACME Solar enters deal with Brookfield Renewable for solar project
POWER & RENEWABLE ENERGY

ACME Solar enters deal with Brookfield Renewable for solar project

ACME Solar Holdings Ltd roped in Brookfield Renewable for setting up a joint solar project of 450 MW in Rajasthan to sell its equity stakes in the project.

ACME is India's leading solar IIP. On Tuesday, it announced the closure of the deal with Brookfield Renewable to build a 450 MW solar project in Rajasthan, India's largest pure-play solar platform, said in a statement.

State-owned fund of Denmark—IFU and UN office for project services S3i acquired 39% and 10% stake respectively, in ACME's 250 MW solar project in Rajasthan. Norway's Scatec is also an equal partner in another 900 MW ACME solar project in Rajasthan. It had earlier sold two solar projects, one of 400 MW to Actis Long Life Infrastructure Fund and a 100 MW solar project to Petroliam Nasional Bhd owned Amplus.

According to a statement by Maharashtra State Electricity Board, the solar project includes a 25 years power purchase agreement (PPA) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL).

ACME Solar is seeking new opportunities in the energy storage, green hydrogen, and ammonia sector. ACME plans to produce green hydrogen in India and Europe with the Lhyfe Labs SAS in France. Oman's Tatweer and ACME Solar plans to invest $2.5 billion in the production of green hydrogen and ammonia.

Image Source


Also read: Tata Motors, Tata Power inaugurate largest solar carport in India

Also read: India’s open access solar installations in Q1 2021 at 419 MW

ACME Solar Holdings Ltd roped in Brookfield Renewable for setting up a joint solar project of 450 MW in Rajasthan to sell its equity stakes in the project. ACME is India's leading solar IIP. On Tuesday, it announced the closure of the deal with Brookfield Renewable to build a 450 MW solar project in Rajasthan, India's largest pure-play solar platform, said in a statement. State-owned fund of Denmark—IFU and UN office for project services S3i acquired 39% and 10% stake respectively, in ACME's 250 MW solar project in Rajasthan. Norway's Scatec is also an equal partner in another 900 MW ACME solar project in Rajasthan. It had earlier sold two solar projects, one of 400 MW to Actis Long Life Infrastructure Fund and a 100 MW solar project to Petroliam Nasional Bhd owned Amplus. According to a statement by Maharashtra State Electricity Board, the solar project includes a 25 years power purchase agreement (PPA) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL). ACME Solar is seeking new opportunities in the energy storage, green hydrogen, and ammonia sector. ACME plans to produce green hydrogen in India and Europe with the Lhyfe Labs SAS in France. Oman's Tatweer and ACME Solar plans to invest $2.5 billion in the production of green hydrogen and ammonia. Image Source Also read: Tata Motors, Tata Power inaugurate largest solar carport in India Also read: India’s open access solar installations in Q1 2021 at 419 MW

Next Story
Infrastructure Transport

HG Infra Receives Key Bihar Project Approval from East Central Railway

HG Infra Engineering Ltd has recently received a crucial approval letter from East Central Railway (ECR) for a major railway project in Bihar. This development is expected to boost the company's growth prospects and strengthen its position in the infrastructure sector. The project involves significant infrastructure work, including the construction and enhancement of railway facilities in Bihar, a region known for its strategic importance in India?s rail network. The approval from ECR is a vital step in advancing the project, which is anticipated to contribute to improved transportation and re..

Next Story
Real Estate

Pune Railway Station to Get Heritage Redevelopment, Announces Minister

Railway Minister Ashwini Vaishnaw recently visited Pune Railway Station to announce a major redevelopment project focused on preserving and enhancing the station's heritage. The initiative aims to modernise the station while maintaining its historical charm and significance. The redevelopment project will involve extensive renovations and upgrades, including the restoration of historical architecture and the introduction of modern amenities. The plan includes enhancing passenger facilities, improving accessibility, and upgrading infrastructure to better handle the increasing passenger traffic..

Next Story
Infrastructure Energy

North Western Railway to Install 2 MW Rooftop Solar Power

The North Western Railway (NWR) is set to enhance its sustainability efforts by installing 2 megawatts (MW) of rooftop solar power across its facilities. This initiative marks a significant step in the railway's commitment to reducing its carbon footprint and embracing renewable energy sources. The project will involve the installation of solar panels on the rooftops of various railway buildings, including stations and administrative offices. By harnessing solar energy, the railway aims to offset a substantial portion of its electricity consumption, leading to both cost savings and environment..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000