April 24, 2015: ACME, India’s leading green energy player has announced that it has signed the PPA for 30MW solar PV power projects with Uttar Pradesh Power Corporation Limited. The power plant will be set-up at Mahoba District over 607028sqm of land.
As per the terms and conditions of the agreement, ACME Group would provide approximately 50 million units power annually for a period of 12 years at a tariff of Rs. 8.93/ KWh and thereafter, it would supply power for further 13 years at the price of eleventh year Average Pooled Purchase Cost (APPC).
Commenting on this momentous occasion, Manoj Kumar Upadhyay, Founder & Chairman, ACME Group said, “We thank the Uttar Pradesh State Government, Uttar Pradesh New and Renewable Energy Development Agency (State Nodal Agency) and Uttar Pradesh Power Corporation Limited (State Discom) for the opportunity given to us to partner with the state through green energy generation. We look forward to helping the state bring down its power demand-deficit and look forward to support from all stakeholders in making this state an ideal green State.”
This project would entail an estimated investment of approx $ 37 mm/ Rs 2.25 billion.
The work on the project shall commence by November 2015 and will be commissioned by August 2016. This will be evacuated by 132KV line connecting the power plant to the state grid.
The state that has one of the lowest per capita consumption of electricity in the country, and recorded the highest deficit of over 15,000 million unit for the period April last year to February 2015 will be benefited by the spike in renewable energy projects in the state.
The company has an existing portfolio of over 900+ MWp including 104MW in Punjab, 160MW in Andhra Pradesh, 100MW JNNSM Phase II Projects in Rajasthan and other projects in the states of Gujarat, Madhya Pradesh, Rajasthan, Odisha and Chhattisgarh. The company aims to generate 7500MW by the year 2017.
ACME showcased its prowess in solar PV technology through its 25MW plant at Khilchipur, Madhya Pradesh that achieved a record output of 25GWh in six months of installation, a record in maximum power output by any solar power plant of that scale.