ACME Cleantech Solutions, a renewable energy developer in India, was the successful bidder in Hyderabad’s opening ceremony auction for 160MW photovoltaic projects presented by Southern Power Distribution Company Limited of Andhra Pradesh (APSPDCL). By the terms of the request for proposal (RFP), as winner of the projects, ACME Group will sign a 25-year (PPA) with APSPDCL.
The 160MW will span over three districts in Andhra Pradesh, India, including Anantpur, Karnool, and Chittoor. The estimated total is Rs. 1250 crores (US$210 milion), and ACME Group said it plans to fund about US$50 million of the cost with the left over funding they received from the Asian Development Bank for ACME Group’s Rajasthan projects.
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Founder and chairman of ACME Group, Manoj Kumar Upadhyay, said: “With this addition, our solar power portfolio has reached 422.5MW and we are on way to generate 1000MW by year 2017. We thank the Andhra Pradesh Authorities for their initiatives and look forward for support from all stakeholders to help us in achieving the dream of bring power to every house by 2019.”