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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
21-04-2025
- Business
- Time of India
Evren inks pact with NTPC to set up 300 MW firm and dispatchable renewable energy project
Evren , a platform launched by Brookfield in India, on Monday said it has entered into a 300 MW power purchase agreement with state-owned power giant NTPC for supply of firm and dispatchable renewable energy. The power purchase agreement (PPA) entails development of close to 1 GW of renewable energy capacity including wind, solar and battery energy storage , a company statement said. According to the statement, the plant, designed for 300 MW Firm and Dispatchable Renewable Energy (FDRE), combines solar, wind, and battery storage for efficient peak-hour energy dispatch, helping power distribution companies in better matching power demand with renewable supply, especially during peak demand periods. This PPA will also assist the power distribution companies in meeting their renewable energy consumption and energy storage obligations. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She lives in the Loneliest house in the World - Don't judge until you see the inside! Tips and Tricks Undo "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," Suman Kumar, CEO Evren said. Evren is the development platform launched by Brookfield in India as a joint venture with Axis Energy. It has a portfolio of over 11 GW, including 7 GW of late and mid-stage pipeline of solar and wind sites across India.
Time of India
21-04-2025
- Business
- Time of India
Evren inks pact with NTPC to set up 300 MW firm & dispatchable renewable energy project
Photo credit- IANS Evren , a platform launched by Brookfield in India, on Monday said it has entered into a 300 MW power purchase agreement with state-owned power giant NTPC for supply of firm and dispatchable renewable energy . The power purchase agreement (PPA) entails development of close to 1 GW of renewable energy capacity including wind, solar and battery energy storage, a company statement said. According to the statement, the plant, designed for 300 MW Firm and Dispatchable Renewable Energy (FDRE), combines solar, wind, and battery storage for efficient peak-hour energy dispatch, helping power distribution companies in better matching power demand with renewable supply, especially during peak demand periods. This PPA will also assist the power distribution companies in meeting their renewable energy consumption and energy storage obligations. "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," Suman Kumar, CEO Evren said. Evren is the development platform launched by Brookfield in India as a joint venture with Axis Energy. It has a portfolio of over 11 GW, including 7 GW of late and mid-stage pipeline of solar and wind sites across India. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
