12 Dec , 2024 By : Debdeep Gupta
Acme Solar Holdings' share price added nearly 3 percent in the early trade on December 11 after the company secured a 250 MW Firm & Dispatchable Renewable Energy (FDRE) project from NHPC, at a tariff of Rs 4.56 per unit.
At 09:21 am, ACME Solar Holdings was quoting at Rs 275.40, up Rs 7.30, or 2.72 percent, on the BSE.
This project includes a green-shoe option that could expand the total capacity of this project from the initial 250 MW to 500 MW.
With this project, the company's total capacity now stands at 6,970 MW.
The auction, titled "Supply of 1200 MW FDRE (Assured Peak Power Supply) from ISTS-Connected Renewable Energy Power Projects Coupled with ESS (Tranche VI)," aims to procure 1,200 MW of renewable energy integrated with Energy Storage Systems (ESS) across India, the company said.
The project will deliver four hours of peak supply, requiring a blend of solar, wind, and battery technologies, ensuring a reliable and stable energy supply during periods of high demand, it added.
The company had reported 60 percent drop in its consolidated net profit for the July-September period to Rs 15.29 crore and revenue from operations fell over 17 percent year-on-year to Rs 295.14 crore, YoY.
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