Latest news with #ACMEPokhran
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Business Standard
5 days ago
- Business
- Business Standard
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.
Time of India
5 days ago
- Business
- Time of India
ACME Solar commissions 1st phase of 26.4 MW wind project in Gujarat; operational capacity reaches 2,731.4 MW
New Delhi: ACME Solar Holdings Ltd has commissioned the first phase of its 50 MW wind power project at Shapar in Gujarat, adding 26.4 MW and taking the company's total operational renewable energy capacity to 2,731.4 MW, according to a company statement. The ACME Pokhran wind project is being implemented in phases, and the 26.4 MW capacity commissioned is the initial stage. Prior to this, the company's operational capacity stood at 2,705 MW. The project is financed by Power Finance Corporation (PFC) and constructed in-house by ACME's EPC division using Envision 3.3 MW turbines. The power generated is pooled at a 33/220 kV pooling station and stepped up for evacuation via a dedicated single circuit 220 kV transmission line to the Shapar sub-station. The Shapar sub-station will also be used for evacuating power from ACME's upcoming 100 MW wind project currently under advanced stages of construction. The power generated from the ACME Pokhran wind project will be sold under a 25-year Power Purchase Agreement signed with Gujarat Urja Vikas Nigam Ltd (GUVNL). ACME Solar Holdings has a total renewable energy portfolio of 6,970 MW comprising solar, wind, firm and dispatchable renewable energy (FDRE), and hybrid projects. Of this, 2,731.4 MW is operational, while the remaining 4,238.6 MW is at various stages of implementation.
