Acme Solar bags 250 MW FDRE project in NHPC auction

The said project also includes a green-shoe option, allowing for the potential expansion of its capacity from the initial 250 MW to 500 MW. This latest order win brings the company's total operational capacity to 6,970 MW.

The auction, titled Supply of 1200 MW FDRE (Assured Peak Power Supply) from ISTS-Connected Renewable Energy Power Projects Coupled with ESS (Tranche VI), aims to procure 1,200 MW of renewable energy integrated with Energy Storage Systems (ESS) across India.

This initiative will provide four hours of peak supply, requiring a blend of solar, wind, and battery technologies, ensuring a reliable and stable energy supply during periods of high demand.

ACME Solar Holdings (ACML) is a renewable power generation company in India with a portfolio of solar, wind, hybrid and FDRE (firm and dispatchable renewable energy) projects.

The company's consolidated net profit declined 60.4% to Rs 15.30 crore on 19.7% fall in revenue from operations to Rs 259.59 crore in Q2 FY25 over Q2 FY24.

The scrip debuted into the stock market on 13 November 2024. The counter was listed at Rs 259, exhibiting a discount of 10.38% to the issue price of Rs 289.

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