Latest news with #FDRE
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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
05-05-2025
- Business
- Time of India
IEX to log double-digit growth in trading volume in FY26
Indian Energy Exchange , the country's leading electricity exchange , is expected to log a double-digit volume growth in the current financial year that started in April, on the back of increasing sell side liquidity and launch of new products, according to analyst reports post IEX 's FY25 earnings. The current financial year is likely to see a capacity addition of 11 GW on thermal side and up to 40 GW on renewable side that is expected to keep supply-side liquidity on exchanges strong, thereby driving down price discovery in key trading segments like Day Ahead Market and Real Time Market (RTM). According to analysts, introduction of new products like green RTM and long-duration contracts (LDC) of up to 11 months will further add to volumes on IEX. In 2024-25, IEX logged the highest-ever traded electricity volume of 121 billion units (BUs), up 18.7 per cent year on year. 'Approval for 11-month LDC contracts, green RTM, private participation in selling un-requisitioned surplus on exchanges, declining BESS prices, boost for FDRE/RTC green projects are all likely to boost supply-side liquidity/volume growth outlook,' AXIS Capital said in its post earnings note. 'As BESS becomes increasingly competitive, it will support growth of FDRE solutions and thereby improve liquidity on exchanges,' the note said. According to analysts, IEX has submitted a petition to regulator CERC for an 11-month LDC contract. It shall help shift part of DEEP volume (40 BU in FY24) to exchanges. Price discovery in LDC is expected to be around 25 per cent lower than on DEEP platform for a similar duration. Also, margin requirements for customers will mean that IEX does not run any working capital risk in LDC contracts. The approval is awaited. The long duration contract is aimed at offering greater flexibility for market participants, particularly distribution companies, by enabling longer-term contracts for more stable power procurement. 'If approved in the next two to three months, IEX expects an additional annual potential of 40 BU (billion units). Additionally, the Green RTM (new product) would allow resellers to earn a price premium over conventional power, while enabling buyers to fulfil their renewable purchase obligations by sourcing green electricity,' Antique Stock Broking said in a report. 'It (launch of LDC) shall help to shift part of DEEP volume to exchanges. Price discovery in LDC is expected to be ~25 per cent lower than on DEEP platform for a similar duration. Also, margin requirements for customers will mean that IEX does not run any working capital risk in LDC contracts,' AXIS said in its note. Beyond electricity trading, IEX is witnessing traction in other commodity exchanges such as gas with nearly 50 per cent growth in volumes, carbon exchange that commenced operations in FY25 and coal exchange where a consultation paper has been floated. According to Antique, IGX volume increase is mainly due to Reliance Industries and ONGC selling a good part of their production in the market now. 'IGX achieved a record 60 million MMBtu in traded gas volume in FY25, up 47 per cent YoY. With falling gas prices, IGX expects continued volume growth,' said the Antique note. 'Diversification into carbon exchange and coal exchanges in the future and improvement in volume growth outlook for IGX add growth options over the medium term,' AXIS said. IEX is working with the coal ministry to set up India's first Coal Exchange by FY27. The launch is expected to require amending Mines and Minerals Development Regulations Act to facilitate sale of surplus coal through coal exchange, including from commercial and captive mines. Talking about market coupling, the analysts have said that there is no clarity on the issue as yet. 'Inordinate delays by the government/regulator imply challenges/ limited merit in implementing the same,' IIFL Capital said in its post-earnings note. During the 2024-25 fiscal, IEX reported a consolidated net profit of ₹429.16 crore compared to ₹350.78 crore a year ago while total income rose to ₹657.36 crore from ₹550.84 crore in 2023-24.
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Business Standard
04-05-2025
- Business
- Business Standard
IEX expects double-digit volume growth in FY26, driven by strong liquidity
Indian Energy Exchange, the country's leading electricity exchange, is expected to log a double-digit volume growth in the current financial year that started in April, on the back of increasing sell side liquidity and launch of new products, according to analyst reports post IEX's FY25 earnings. The current financial year is likely to see a capacity addition of 11 GW on thermal side and up to 40 GW on renewable side that is expected to keep supply-side liquidity on exchanges strong, thereby driving down price discovery in key trading segments like Day Ahead Market and Real Time Market (RTM). According to analysts, introduction of new products like green RTM and long-duration contracts (LDC) of up to 11 months will further add to volumes on IEX. In 2024-25, IEX logged the highest-ever traded electricity volume of 121 billion units (BUs), up 18.7 per cent year on year. "Approval for 11-month LDC contracts, green RTM, private participation in selling un-requisitioned surplus on exchanges, declining BESS prices, boost for FDRE/RTC green projects are all likely to boost supply-side liquidity/volume growth outlook," AXIS Capital said in its post earnings note. "As BESS becomes increasingly competitive, it will support growth of FDRE solutions and thereby improve liquidity on exchanges," the note said. According to analysts, IEX has submitted a petition to regulator CERC for an 11-month LDC contract. It shall help shift part of DEEP volume (40 BU in FY24) to exchanges. Price discovery in LDC is expected to be around 25 per cent lower than on DEEP platform for a similar duration. Also, margin requirements for customers will mean that IEX does not run any working capital risk in LDC contracts. The approval is awaited. The long duration contract is aimed at offering greater flexibility for market participants, particularly distribution companies, by enabling longer-term contracts for more stable power procurement. "If approved in the next two to three months, IEX expects an additional annual potential of 40 BU (billion units). Additionally, the Green RTM (new product) would allow resellers to earn a price premium over conventional power, while enabling buyers to fulfil their renewable purchase obligations by sourcing green electricity," Antique Stock Broking said in a report. "It (launch of LDC) shall help to shift part of DEEP volume to exchanges. Price discovery in LDC is expected to be ~25 per cent lower than on DEEP platform for a similar duration. Also, margin requirements for customers will mean that IEX does not run any working capital risk in LDC contracts," AXIS said in its note. Beyond electricity trading, IEX is witnessing traction in other commodity exchanges such as gas with nearly 50 per cent growth in volumes, carbon exchange that commenced operations in FY25 and coal exchange where a consultation paper has been floated. According to Antique, IGX volume increase is mainly due to Reliance Industries and ONGC selling a good part of their production in the market now. "IGX achieved a record 60 million MMBtu in traded gas volume in FY25, up 47 per cent YoY. With falling gas prices, IGX expects continued volume growth," said the Antique note. "Diversification into carbon exchange and coal exchanges in the future and improvement in volume growth outlook for IGX add growth options over the medium term," AXIS said. IEX is working with the coal ministry to set up India's first Coal Exchange by FY27. The launch is expected to require amending Mines and Minerals Development Regulations Act to facilitate sale of surplus coal through coal exchange, including from commercial and captive mines. Talking about market coupling, the analysts have said that there is no clarity on the issue as yet. "Inordinate delays by the government/regulator imply challenges/ limited merit in implementing the same," IIFL Capital said in its post-earnings note. During the 2024-25 fiscal, IEX reported a consolidated net profit of Rs 429.16 crore compared to Rs 350.78 crore a year ago while total income rose to Rs 657.36 crore from Rs 550.84 crore in 2023-24.
Hans India
21-04-2025
- Business
- Hans India
Evren, a joint venture development platform of Brookfield and Axis Energy, Signs 300 MW PPA with NTPC for Firm & Dispatchable Renewable Energy Project development in Andhra Pradesh
Evren, the joint venture renewable energy platform launched by Brookfield and Hyderabad-based Axis Energy Group, has signed a Power Purchase Agreement (PPA) with NTPC Limited, India's largest integrated power utility. This agreement, signed for a capacity of 300 MW, supports the development of close to 1 GW of renewable energy project including wind, solar and battery energy storage. The project will comprise of 500 MW of Wind, 330MW of Solar and Battery Energy Storage, ensuring Firm and Dispatchable Renewable Energy (FDRE) to meet peak demand reliably. The energy will be supplied at a tariff of ₹4.65/unit, with 0.7 paise/unit as trading commission for NTPC. The total investment for the project stands at USD 750 million and the project is being developed in the state of Andhra Pradesh. By leveraging hybrid and storage-based renewable technologies, this project will enable consistent, firm power supply, helping distribution companies to meet their peak hour demand for two hours in the morning and the evening peak respectively at the same time meeting the Renewable Purchase Obligations and manage grid stability effectively. Murali Surapaneni, Chief Executive Officer of Axis Energy said 'This agreement with NTPC is a proud moment for us. It reflects our continued commitment to delivering innovative clean energy projects that are scalable, sustainable, and aligned with the nation's vision for a green future. With Andhra Pradesh as a strategic base, we are excited to drive forward a project of this scale and complexity, and set new benchmarks in hybrid renewable energy deployment.' Evren currently holds a diversified portfolio of over 11 GW, including mid and late-stage wind and solar assets across India. This PPA marks a key milestone in the platform's commitment to accelerating India's energy transition through large-scale, integrated renewable solutions. This collaboration further strengthens Andhra Pradesh's emergence as a key destination for green energy investments and reaffirms Axis Energy's vision of enabling a sustainable and energy-secure future for the nation.
Time of India
21-04-2025
- Business
- Time of India
Evren signs 300 MW PPA with NTPC, to build 1 GW hybrid renewable capacity
New Delhi: Evren, a renewable energy platform launched by Brookfield in India, has signed a power purchase agreement (PPA) with NTPC Limited for the supply of 300 MW of firm and dispatchable renewable energy (FDRE). The agreement will involve the development of nearly 1 GW of renewable energy capacity, including solar, wind, and battery energy storage systems. The hybrid plant has been designed to combine solar, wind, and storage technologies to supply reliable renewable power during peak hours. The firm and dispatchable structure is intended to support power distribution companies in aligning renewable supply with demand curves and fulfilling renewable energy consumption and storage obligations. Suman Kumar, CEO,Evren, said, 'The FDRE tender marks a great milestone for Evren. We are proactively investing in a large pipeline of high-quality resources, comprising of interconnect approvals and data-mapped land, thereby enabling us to provide decarbonization solutions at scale. We are firmly placed to contribute to India's renewable energy transition at scale.' The project is expected to contribute to grid stability and energy transition efforts by offering consistent clean energy availability and supporting power utilities in meeting their energy transition goals.
