ACME Signs PPA for 30 MW Solar Project with Uttar Pradesh

• ACME to invest Rs. 225 crores in Uttar Pradesh

• ACME to set-up Solar Power Plant at Mahoba District

• ACME to supply 50 mn units/ year to state for 25 years

• ACME Group to generate 7500 MW solar power by 2019                                                                                    

ACME, India’s leading green energy player, today announced that it has signed the PPA for 30 MW solar PV power projects with Uttar Pradesh Power Corporation Limited. The power plant will be set-up at Mahoba District over 150 acres of land.

As per the terms and conditions of the agreement, ACME Group would provide approx. 50 mn 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, Mr. 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.225 crore.

The work on the project shall commence by November 2015 and will be commissioned by August 2016. This will be evacuated by 132 KV 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 104 MW in Punjab, 160 MW in Andhra Pradesh, 100 MW 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 7500 MW by the year 2017.

ACME showcased its prowess in solar PV technology through its 25 MW plant at Khilchipur, Madhya Pradesh that achieved a record output of 25 GWh in six months of installation, a record in maximum power output by any solar power plant of that scale.

About ACME Group:

The ACME Group is a leader in the field of energy management and innovative solutions for the wireless telecommunications and alternate energy sector. It prides itself as a pioneer in the development of green technology solutions that are environment friendly, energy efficient, & cost effective and also capable of delivering a quick return on investment.

ACME group is a result of the vision and commitment of its founder, Mr. Manoj Kumar Upadhyay. He sought to realize this goal by providing radically new technology solutions through intensive research and development instead of making incremental changes to existing technologies. The establishment of ACME Cleantech Solutions Ltd. (formerly ACME Tele Power Limited) in 2003 was the first step towards realization of this dream.

Today ACME products are installed over 1,50,000 telecom sites across the globe. ACME products help significant Carbon Emission Savings.

ACME has enabled telecom expansion to farthest as well as most interior and hitherto unconnected regions of India while reducing carbon emissions from the telecom site as well. The Company today enjoys an international presence, through its own establishments, channel partners, and associates. For further information, please visit http://www.acme.in/