Projects will require estimated investment of Rs.1,250 crore

Hyderabad:

Acme Cleantech Solutions Ltd. on Monday said it has won a bid to develop 160 megawatt (MW) of solar power projects in Andhra Pradesh.

The projects will be set up in the Anantapur, Kurnool and Chittoor districts in Andhra Pradesh and will require an estimated investment of Rs.1,250 crore, the company said in a statement.

“This win is the country’s largest win by any private solar developer,” Manoj Kumar Upadhyay, founder and chairman of Acme Group said in the statement. “With this addition, our solar power portfolio has reached 422.5 MW and we are on way to generate 1000 MW by year 2017,” Upadhyay added.

The company will sign a 25-year power purchasing agreement with Southern Power Distribution Co. Ltd in Andhra Pradesh.

A total of 51 bidders participated in the tender process.

Bifurcated Andhra Pradesh is one of the three states chosen by the union government for the power for all scheme that will ensure 24X7 power supply. The N. Chandrababu Naidu government is keen on harnessing solar energy for electricity generation.

Public sector National Thermal Power Corp. (NTPC) recently signed a memorandum of understanding with the Andhra Pradesh government to develop a 1,000 MW solar park on a build-own-operate basis with an investment of Rs.7,000 crore. The Union government also agreed to grant Rs.500 crore to Andhra Pradesh to develop 2,500 MW of solar energy, PTI reported on 24 October.

Acme Group has solar power projects in the states of Gujarat, Madhya Pradesh, Rajasthan, Odisha and Chhattisgarh.

source: http://www.livemint.com / Live Mint / Home> Industry / by Yogendra Kalavalapalli / Tuesday – October 28th, 2014