Acme Solar Holding announced that CRISIL has assigned the rating CRISIL A+; Positive for bank facilities aggregating Rs 350 crore. Powered by Capital Market - Live News

Net profit of ACME Solar Holdings rose 152.10% to Rs 112.06 crore in the quarter ended December 2024 as against Rs 44.45 crore during the previous quarter ended December 2023. Sales rose 5.28% to Rs 349.01 crore in the quarter ended December 2024 as against Rs 331.52 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales349.01331.52 5 OPM %88.0283.61 - PBDT179.93107.84 67 PBT110.2723.11 377 NP112.0644.45 152 Powered by Capital Market - Live News

ACME Solar Holdings announced the signing of a Power Purchase Agreement (PPA) with NHPC for a Firm & Dispatchable Renewable Energy (FDRE) project of 680 MW capacity. ACME Solar was awarded the project under the FDRE tender of 1400 MW issued by NHPC. The project will be developed across multiple locations, including Gujarat, Madhya Pradesh, Karnataka and Rajasthan. This innovative project combines advanced technology with hybrid renewable energy solutions to enhance e6iciency and sustainability. The PPA with NHPC reinforces ACME Solar`s commitment to India`s clean energy goals by integrating solar, wind, and battery storage, setting a new benchmark for hybrid energy systems and contributing to a greener future. With a minimum annual (CUF) guarantee of 40% and a requirement to meet 90% of the promised value during peak hours, the project will contribute significantly to reducing greenhouse gas (GHG) emissions. Powered by Capital Market - Live News

ACME Solar Holdings will hold a meeting of the Board of Directors of the Company on 29 January 2025.Powered by Capital Market - Live News

ACME Renewtech, a subsidiary of ACME Solar Holdings (ACME Solar), has successfully secured Rs 1,988 crore in term loan financing from Power Finance Corporation (PFC) to fund the development and construction of a 300 MW Solar-Wind Hybrid Renewable Energy Project. The project will be located in high-resource potential areas, with solar capacity to be developed in Bikaner, Rajasthan, and wind sites in Bhuj, Gujarat. Power Purchase Agreement (PPA) has already been signed with NTPC, and grid connectivity for the project is in place. The land for the solar capacity has been fully procured. PFC, acting as the sole lender, has structured the financing with an optimal debt-to-equity ratio of 80:20. In addition to this significant development, ACME Solar has achieved another milestone in its renewable energy portfolio by securing a 300 MW Solar Power Project under the SECI-ISTS XVIII scheme at a tariff of Rs 3.05 per unit. The project is required to commence operations on or before 30 June 2025 as per the PPA terms. To fulfil this, ACME Solar plans to allocate its existing under construction ACME Sikar project to the new bid, leveraging its existing grid connectivity in Bikaner-2 and the significant capital expenditure already incurred. The project will benefit from the Inter-State Transmission System (ISTS) waiver, as the Scheduled Commercial Opera,on Date (SCOD) is set before June 2025, aligning with the government`s incentives for the early operationalization of renewable energy projects.Powered by Capital Market - Live News