Latest news with #PowerPurchaseAgreement
CNBC
5 hours ago
- Business
- CNBC
UBS says this solar stock can rally 75% even as U.S. budget bill poses risks to clean energy
Sunrun can surge from here even as a new U.S. budget bill poses a risk to the clean energy sector, according to UBS. Analyst Jon Windham kept his buy rating on the solar company. He did cut his price target to $12 from $17, but that still implies the stock could still gain 75% from Thursday's close. Sunrun shares have plunged nearly 26% this year and more than 52% over the past year, as traders ditch clean energy names under the Trump administration. The Invesco Solar ETF (TAN) has dropped more than 3% in 2025 and 13% in the past six months. The latest headwind for the sector comes after the U.S. House of Representatives on May 22 passed the "One Big Beautiful Bill Act," which proposes to eliminate the 30% Investment Tax Credit by the end of December. The bill has allowed homeowners to reduce their electricity costs by installing solar panels and battery storage systems. "Our lower target multiple reflects the overall intent of the House to seemingly remove all tax credits regarding residential solar and our relatively negative outlook on the Senate's willingness to preserve the credits compared to programs like the 45x manufacturing credit," Windham wrote in a Friday note to clients. RUN 1Y mountain Sunrun stock performance. But according to the analyst, Sunrun could remain resilient in the face of these cuts. If the residential tax credits are fully slashed, he said Sunrun could survive regulatory changes by structuring its Power Purchase Agreement options, getting more state-level policy support and transitioning to end markets such as commercial and industrial and community solar. He also noted that the company has strong assets. "Our estimates are unchanged as there is the potential for revisions in the U.S. Senate and possible that a final bill does not pass," Windham wrote. "We maintain our buy rating ... based on RUN's underlying $2.6bn portfolio of contracted net earning assets. In addition, we see potential upside scenarios beyond the U.S. budget bill." Wall Street remains split on Sunrun. Of the 25 analysts covering the stock, on rates it a strong buy, while 10 rate it a buy and 12 give it a hold, per LSEG.
The Star
2 days ago
- Business
- The Star
Samaiden signs long-term lease for Kelantan solar project
From left: PKINK group chief executive officer Datuk Sr. Zamri Ismail, PKINK deputy group CEO - corporate affairs Ahmad Nazri Ismail, Kelantan Exco careers, infrastructure, water and rural development Datuk Dr Izani Husin, Samaiden group managing director Datuk Ir Chow Pui Hee and Samaiden Sdn Bhd project development director Ts. Makhzumi Ghazali. KUALA LUMPUR: Samaiden Group Bhd's (Samaiden) wholly-owned unit, Samaiden Legasi Timur Sdn Bhd, has signed a long-term lease agreement with Perbadanan Kemajuan Iktisad Negeri Kelantan for the development of a large-scale solar photovoltaic (LSS) power plant under Malaysia's LSS5 programme. The renewable energy company said the lease agreement covers approximately 400 acres of land in Pasir Mas, Kelantan, marking a major milestone for Samaiden. 'The land will be utilised to construct and operate a solar energy facility with a maximum export capacity of 99.99 megawatts of alternating current, to supply clean electricity to Tenaga Nasional Bhd under a Power Purchase Agreement. 'The lease is for 23 years, inclusive of a two-year construction period, and will commence upon fulfilment of several conditions precedent, including the successful award of the LSS5 project by the Energy Commission,' it said in a statement.
&w=3840&q=100)
Business Standard
2 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
2 days ago
- Business
- Time of India
BC Jindal bags 150 MW round-the-clock project from SECI
The BC Jindal group on Wednesday announced that it has won a 150 MW round-the-clock ( RTC ) project in a reverse auction conducted by Solar Energy Corporation of India ( SECI ) at a tariff of Rs 5.07/kWh. The auction was part of SECI's 1200 MW RTC project. Under the terms of the agreements, the company would be setting up Inter-State Transmission System (ISTS)-connected renewable energy power projects. Additionally, the firm would be responsible for land identification, project installation and ownership, obtaining approvals, and connecting with the ISTS power generated will be supplied to DISCOMs under a Power Purchase Agreement (PPA) through SECI. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 아침마다 뒷목 땡긴다면 99% '이것' 때문 생활 건강 꿀팁 공유 더 알아보기 Undo 'This project win gives a big push to our goal of playing a key role in supporting India's transition to clean energy and assisting the country achieve its renewable energy target of 500 GW by 2030,' said a company spokesperson. Earlier, Jindal India Renewable Energy (JIRE) won two major 300 MW solar plus storage projects from state-owned SJVN and another from NHPC . Live Events To meet the ambitious target of achieving 500GW by 2030, the Centre is eyeing adding 50GW of renewable energy capacity addition per annum. India has logged threefold growth in its renewable power capacity in the last decade, with the installed green energy capacity reaching 232GW, including large hydro power plants, currently compared to 75.52GW capacity in March 2014, official sources told PTI. India has emerged as a global front runner in the renewable energy space as the tariff of the grid-connected solar power plants has gone down by 80 per cent to Rs 10.95 per unit (for 170MW at Neemuch). In March 2014, India's installed solar energy capacity was 2.82 GW, which has crossed 108GW now, recording multifold growth. Wind energy capacity has more than doubled to 51GW presently from 21GW in 2014.
Time of India
3 days ago
- Business
- Time of India
SC upholds tribunal order in Adani case, nixes discoms' plea
Jaipur: The Supreme Court on Friday dismissed an appeal filed by Rajasthan's power distribution companies against an order of the Appellate Tribunal for Electricity (APTEL) that ruled in favour of Adani Power Rajasthan Ltd (APRL) for levying a charge of Rs 50 per tonne of coal. Tired of too many ads? go ad free now The case is related to a Dec 2017 notification issued by Coal India Ltd, imposing a charge of Rs 50 per tonne as evacuation facility charges (EFC). Adani Power, which signed a PPA with the state's discoms in 2010 for the supply of 1200 MW of power, claimed that the levy constituted a "change in law" under Article 10 of the PPA. A bench comprising Justices M M Sundresh and Rajesh Bindal held that there was no merit in the plea of Jaipur Vidyut Vitran Nigam Ltd (JVVNL) and Rajasthan discoms. It upheld the APTEL's finding that a levy introduced by Coal India Ltd constituted a "change in law" entitling Adani to compensation under its Power Purchase Agreement (PPA). After the CIL notification, Adani Power notified the discoms of the change in law event, seeking compensation. When state discoms failed to respond, Adani approached the Rajasthan Electricity Regulatory Commission (RERC), which partially allowed its claims. Both parties subsequently approached APTEL, which in April 2024 ruled in favour of Adani Power. In the order, Justice Sundresh said the statutory levy by a govt entity like CIL qualified as a change in law, triggering the restitution principle enshrined in the PPA. The verdict said that compensation must be provided to restore the power generator to the same economic position it would have occupied but for the change in law. "We find no merit in this appeal. The appeal stands dismissed accordingly," it held.
