New Delhi, October 18, 2024: ACME Solar Holdings Limited (ASHL or Company), through its Special Purpose Vehicle (SPV), ACME Platinum Urja Private Limited has signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a hybrid project with a capacity of 150 MW of solar power integrated with Energy Storage Solutions (ESS).
This capacity is part of the total 350 MW capacity awarded to ASHL by SECI. The project will be executed through ACME Platinum Urja Private Limited, an SPV set up for this purpose.
The project would be connected to an inter-state transmission system at Tumkur-II substation in Karnataka for which the Company has applied connectivity with Central Transmission Utility.
This agreement reinforces ASHL’s commitment to supporting sustainable energy development and demonstrates the ASHL’s ability to execute large-scale, integrated renewable energy projects that is incorporated with advanced ESS technology.
ASHL is proposing an initial public offer (IPO), subject to receipt of requisite approvals, market conditions and other considerations, to offer its equity shares pursuant to an IPO and has filed a draft red herring prospectus dated July 2, 2024 (DRHP) with the Securities and Exchange Board of India (SEBI).
