ACME Solar secures 3.1 GWh BESS order from Zhejiang Narada and Trina Energy
Holdings announced on Monday that it has secured over 3.1 GWh of high-efficiency and scalable storage solutions from
Zhejiang Narada
and Trina Energy- making it one of the largest
battery energy storage system
(BESS) orders in India.
This substantial procurement will facilitate the deployment of BESS across ACME Solar's multiple Firm & Dispatchable
Renewable Energy
(FDRE) and battery-linked projects.
These projects are scheduled for commissioning over the next 12-18 months across various states in India. Deliveries are planned in a phased manner, commencing within the next four to eight months of the current fiscal year.
According to the company's statement, ACME Solar noted that the order value aligns well within budgeted costs, ensuring overall capital expenditure efficiency while upholding technical performance and supplier reliability. This early procurement strategy is also expected to accelerate execution timelines and enable timely revenue realisation.
The advanced BESS equipment procured meets rigorous global standards, including those set by the International Electrotechnical Commission (IEC) and Underwriters Laboratories (UL), guaranteeing best-in-class safety, performance, and reliability for the upcoming projects.
ACME Solar's dedication to accelerating
clean energy adoption
and enhancing grid stability in one of India's fastest-growing renewable energy regions.
ACME Solar Holdings currently has an operational capacity of 2,890 MW, with an additional 4,080 MW in various stages of implementation.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
a day ago
- Business Standard
Oriana Power surges after bagging Rs 212-cr BESS project from KPTCL
Oriana Power jumped 4.70% to Rs 2,408 after the company secured an order worth Rs 212.31 crore from Karnataka Power Transmission Corporation (KPTCL) for setting up 50 MW/100 MWh standalone Battery Energy Storage Systems (BESS). The project will install standalone grid-scale BESS facilities with a total capacity of 50 MW/100 MWh at Shahapur Taluk Yadagir, Karnataka. This BESS initiative aims to improve grid stability by balancing supply and demand, lowering the risk of blackouts, and boosting overall grid efficiency. The project will follow a build-own-operate model and will include Rs 27 crore in Viability Gap Funding. The execution timeline is 15 months, with revenue generation expected over a period of 12 years. Oriana Power is engaged in two main business verticals: providing EPC and operations of solar power projects and offering solar energy solutions on a BOOT (build, own, operate, transfer) basis. On a full-year basis, the company's net profit surged 192.1% to Rs 158.54 crore on a 157.8% rise in net sales to Rs 987.17 crore in FY25 over FY24.
Hans India
4 days ago
- Hans India
Delay in solar plant construction will lead to contract cancellation
Kothagudem: Singareni CMD N Balram has warned that solar plant constructions taken up by Singareni under the directions of the government must be completed within the contractually stipulated timelines, failing which the contracts of agencies will be cancelled, and they will be blacklisted. On Thursday, at Singareni Bhavan, Hyderabad, he held a review with officials and concerned contractors on the delays in solar plant construction. The construction of the 54.5 MW solar plants pending under Phase 1 and the construction process of the 67.5 MW capacity solar plants pending under Phase 2 were reviewed on the day. Balram expressed dissatisfaction with the construction agencies causing delays without completing the works within the specified timeframe. He remarked that it is unfortunate that despite Singareni ensuring timely bill payments, the construction agencies are failing to complete their works on time. He instructed them to complete the assigned works quickly by October, making it clear that no further extensions would be given. He also ordered that the Battery Energy Storage System (BESS) being set up alongside the 28 MW solar plant at Mandamarri must be completed by August. Under the Central Government's Surya Ghar Yojana scheme, he specified that all works related to the construction of 32.75 MW rooftop plants on various Singareni buildings must be completed by the end of December.
Time of India
4 days ago
- Time of India
ACME Solar gains nearly 3%, hits 52-week high after Elara Capital initiates coverage
Shares of ACME Solar Holdings rose nearly 3% on Friday's session to trade at Rs 295, following a bullish outlook from Elara Capital . The stock also touched a new 52-week high of Rs 303.94. The surge in the company's stock prices comes after Elara Capital initiated coverage on the stock with a 'Buy' rating and a target price of Rs 325, suggesting an upside of over 10% from current levels and around 30% from the time of the report's release. In its research report, Elara highlighted ACME Solar's strong execution track record and aggressive growth roadmap. The company currently operates 2,826 MW of solar power capacity and has another 4,143 MW under development. With a strategic focus on firm and dispatchable renewable energy (FDRE) and hybrid energy projects, ACME aims to boost returns and strengthen grid stability. The report projects that ACME Solar is poised to scale its capacity from 2.8 GW to 7.0 GW by FY28, supported by a robust project pipeline. During this period, the company is expected to deliver a 49% revenue CAGR and a 59% EBITDA CAGR. The stock trades at 8.3x FY28E EV/EBITDA and 13.2x FY28E P/E. Elara assigns a valuation multiple of 9.0x EV/EBITDA, justifying the Rs 325 target price. Live Events With India's renewable energy sector gaining momentum, ACME Solar's expanding footprint and strong financial outlook appear well-positioned to capitalise on long-term growth opportunities. Technicals: The 14-day Relative Strength Index (RSI) for the stock stands at 79.9, which is above the typical overbought threshold of 70. This suggests that the stock may be due for a short-term pullback or consolidation as buying momentum could be overheating. On the positive side, the stock is showing strong technical strength with all seven key Simple Moving Averages (SMAs)—ranging from the short-term 5-day SMA to the long-term 150-day SMA—trading below the current price. This bullish alignment of moving averages indicates sustained upward momentum and a healthy trend. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
