New Delhi: ACME Solar Holdings Limited has emerged as the winning bidder for 130 MW under REMC Limited’s 1,000 MW round-the-clock (RTC) renewable energy project tender, the company said in a statement issued on Monday. The bid was finalised through an e-reverse auction, where ACME Solar quoted a tariff of Rs 4.35 per unit. The Letter of Award (LoA) is expected to be issued within the timelines prescribed in the tender document.
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This tender is aimed at supplying consistent, round-the-clock renewable power to the Indian Railways, which requires a steady power profile throughout the day due to its unique load pattern. The Railways will sign a direct power purchase agreement with the winning developers without any intermediary. According to the statement, “This bid and tariff discovered demonstrates the competitiveness of renewable energy to provide high CUF power throughout the day by co-locating solar/wind and battery at the most competitive price.”
Under the award, ACME Solar will supply renewable power complemented by dispatchable sources and energy storage systems from ISTS-connected projects to provide firm, clean power as mandated in the tender. The project requires a minimum annual availability of 75 percent during the first three contractual years from commissioning, rising to 85 percent thereafter.
Meeting these requirements will involve deploying a multiplier of contracted solar and battery capacity, supplemented with wind power when necessary. ACME Solar plans to commission the project within 30 months from the signing of the PPA, aided by land and transmission connectivity already available in its portfolio.
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ACME Solar has portfolio across solar, wind, storage, firm and dispatchable renewable energy solutions, and hybrid projects. It currently has 2,934 MW of operational contracted capacity and 4,456 MW under construction, including 13.5 GWh of battery energy storage systems.