&w=3840&q=100)
ACME Solar up 4% on commissioning first phase of 26.4 MW wind power project
ACME Solar share price: ACME Solar Holdings (ACME Solar) shares were buzzing in trade on Wednesday, May 28, 2025, with the scrip rising up to 3.67 per cent to hit an intraday high of ₹255.30 per share.
At 1:52 PM, ACME Solar shares continued to trade near day's high level, up 3.29 per cent at ₹254.35 apiece. In comparison, BSE Sensex was trading 0.18 per cent lower at 81,401.17 levels.
What drove ACME Solar shares 4% higher today?
ACME Solar shares advanced after the company announced it has commissioned the initial 26.4 MW phase of its first wind power project in Shapar, Gujarat.
The capacity is part of the larger 50 MW ACME Pokhran wind project, which is being developed in stages.
'Strategically located in one of India's highest wind resource regions, it is poised to be an important contribution to India's renewable energy goals,' ACME Solar said, in a statement.
The development is financed by Power Finance Corporation (PFC) and executed by ACME's in-house EPC team, utilising Envision's 3.3 MW wind turbines. Power generated from the facility is collected at a 33/220 kV pooling station and transmitted via a dedicated 220 kV single-circuit line to the Shapar sub-station. This infrastructure will also serve ACME Solar's upcoming 100 MW wind project, currently in advanced construction, the company said.
Moreover, the electricity from the project will be supplied under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited.
With this commissioning, ACME Solar's total operational capacity has increased from 2,705 MW to 2,731.4 MW.
ACME Solar Q4 results
ACME Solar reported a 77 per cent year-on-year decline in consolidated net profit to ₹122 crore in Q4FY25, primarily due to the absence of an exceptional gain recorded in the same period last year.
In the January–March quarter of FY24, the company had posted a one-time gain of ₹696 crore from the sale of 369 MW of operational solar assets located in Punjab, Uttarakhand, and Karnataka. The gain had boosted net profit to ₹532.3 crore in the corresponding quarter.
Despite the profit decline, the company's total income rose to ₹539.2 crore in Q4FY25, up from ₹318 crore in the year-ago period, according to a regulatory filing with the BSE.
ACME Solar listing
ACME Solar made a lacklustre debut on the stock exchanges, falling short of market expectations. On the BSE Sensex, the stock was listed at ₹259 per share, marking a 10.3 per cent drop from its IPO issue price of ₹289.
About ACME Solar
ACME Solar Holdings is a fully integrated, pure-play renewable energy company in India, with a diversified portfolio spanning solar, wind, hybrid, and Firm and Dispatchable Renewable Energy (FDRE) projects. The company is recognised as one of the top 10 independent power producers (IPPs) in the country's renewable energy sector.'
ACME Solar generates long-term, stable cash flows by selling electricity to a range of offtakers, including central and state government-backed entities, under long-term Power Purchase Agreements (PPAs) with fixed tariffs typically spanning 25 years.
With in-house engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) capabilities, the company maintains strong control over project execution, costs, and timelines—offering flexibility in technology and supplier selection.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
12 hours ago
- Hans India
IMFA Signs 25-Year Power Purchase Agreement with AMPIN ENERGY
Indian Metals & Ferro Alloys Limited (IMFA), India's leading fully integrated producer of ferro alloys, has signed a long-term Power Purchase Agreement (PPA) with AMPIN Energy Utility One Private Limited. Under the terms of the PPA, IMFA will source 40 MW of contracted demand through a hybrid renewable energy solution, comprising 58 MW AC of solar and 58 MW of wind capacity. The agreement is valid for a period of 25 years. This partnership is expected to significantly reduce IMFA's carbon footprint, ensure long-term energy cost stability, and support the company's environmental, social, and governance (ESG) objectives. Commenting on the development, Mr. Bijayananda Mohapatra, Chief Operating Officer of IMFA, said: 'This long-term agreement with AMPIN Energy Utility One Private Limited is a milestone in our journey towards sustainable operations. By integrating hybrid renewable energy into our power mix, we are not only reducing our dependency on conventional sources but also reinforcing our commitment to responsible manufacturing.' The collaboration with AMPIN Energy Utility One Private Limited, a leading renewable energy solutions provider, underscores IMFA's proactive approach in aligning its business operations with global best practices in sustainability.
United News of India
17 hours ago
- United News of India
Sensex down by 270.07 pts during week
Mumbai, May 31 (UNI) The equity market remained negative for another week, as BSE Sensex slid 270.07 pts or 0.33 per cent to settle at 81,451.01 during the week ended on Friday, driven by profit booking, global uncertainties, and cautious investor sentiment ahead of key economic data. The Nifty slipped 102.45 points or 0.41 perc ent to settle at 24,750.70 Of five sessions of the week, two were in green while three were in red. For two sessions of the week, the market was in the green, boosted by the Reserve Bank of India's record Rs 2.68 lakh crore dividend payout, easing fiscal concerns and lifting investor confidence. However, remaining three sessions saw declines, as rising US treasury yields, global trade tensions, and elevated valuations triggered profit booking and risk aversion. Despite the weakness in frontline indices, the broader market out performed, with the BSE Mid-Cap gained 0.61 per cent to close at 45,136.35. BSE Small-Cap index rallied 1.73 per cent to end at 52,413.25. On Monday, Sensex rose 455.37 points or 0.56 per cent to 82,176.45. Nifty also advanced 148 points or 0.60 per cent to 25,001.15. On Tuesday, Sensex tanked 624.82 points or 0.76 per cent to 81,551.63. Nifty slipped 174.95 points or 0.70 per cent to 24,826.20. On Wednesday BSE Sensex slipped 239.31 points or 0.29 per cent to 81,312.32. Nifty too fell 73.75 points or 0.30 per cent to 24,752.45. On Thursday, halting a two-day losing run. BSE Sensex advanced by 320.70 points or 0.39 per cent to 81,633.02. Nifty rose 81.15 points or 0.33 per cent to 24,833.60. On Friday BSE Sensex tumbled down 182.01 points or 0.22 percent to 81,451.01. Nifty shed 82.90 points or 0.33 percent to 24,750.70. Stock that fell are Bajaj Auto by 1.47 per cent, JSW Steel by 1.46 per cent , NTPC by 2.97 per cent. Jio Financial Services gained 1.73 per cent. The company announced that JioBlackRock Asset Management, a 50:50 joint venture between Jio Financial Services Limited (JFSL) and BlackRock, on May 27 said it has received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as an investment manager for their mutual fund business in India. Indusind Bank rose 2.99 per cent and Tata Motors 0.18 percent Insecticides (India) surged 11 per cent The company's consolidated net profit soared 85% to Rs 13.89 crore, while revenue from operations rose 32% to Rs 358.92 crore in Q4 March 2025 over Q4 March 2024. UNI JS-NV PRS
Hans India
21 hours ago
- Hans India
Markets end lower on IT drag, weak Asian cues
Mumbai:Stock markets closed lower in a range-bound trade on Friday following losses in IT shares and sluggish trends in Asian markets due to trade uncertainty after a US appeals court temporarily reinstated reciprocal tariffs. The 30-share BSE Sensex declined by 182.01 points or 0.22 per cent to settle at 81,451.01 as 24 of its constituents retreated and six advanced. During the day, it dropped 346.57 points or 0.42 per cent to 81,286.45. The NSE Nifty dipped 82.90 points or 0.33 per cent to 24,750.70. Metals, IT, and auto sector shares declined while banking shares gained. Investors were cautious ahead of the release of domestic GDP data post-market hours, analysts said. Among Sensex firms, Tech Mahindra fell the most by 1.73 per cent. HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel also closed lower. Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers. 'A range-bound movement continued in the market, with the temporary reinstatement of US tariffs by the appeal court influencing investors to stay on the sideline. The global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability, which may navigate a short-term consolidation. 'Meanwhile, FII inflows continued due to the volatility in the US 10-year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI,' Vinod Nair, Head of Research, Geojit Investments Limited, said. 'Markets languished in negative territory to end lower amid weak Asian cues as investors cut their position in IT, metal, oil & gas and auto shares,' Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. The BSE midcap gauge declined 0.39 per cent while smallcap index went up by 0.17 per cent. Among sectoral indices, metal dropped the most by 1.68 per cent, followed by BSE Focused IT (1.14 per cent), commodities (1.14 per cent), utilities (1.09 per cent), teck (0.99 per cent), auto (0.91 per cent) and telecommunication (0.79 per cent). Financial Services, bankex and capital goods were the gainers. On the weekly front, the BSE benchmark declined 270.07 points or 0.33 per cent and the Nifty dipped 102.45 points or 0.41 per cent. Foreign Institutional Investors (FIIs) bought equities worth Rs 884.03 crore on Thursday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 4,286.50 crore, according to exchange data. The BSE Sensex climbed 320.70 points or 0.39 per cent to settle at 81,633.02 on Thursday. The 50-share Nifty went up by 81.15 points or 0.33 per cent to 24,833.60.
