Acme Cleantech Solutions Pvt. Ltd expands solar power project portfolio to 1229 MW

India: Acme Group announced that it has expanded its solar power projects portfolio to 1229 MW after winning 75 MW project in Jharkhand. The Company has received Letter of Intent from Jharkhand Renewable Energy Development Agency Ltd (JREDA) for supply of solar energy based electricity with a tariff of Rs 5.73 per kWh. The Company’s work order in solar energy project include 440 MW in Telangana, 160 MW in Andhra Pradesh, 104 MW in Punjab and 100 MW in Rajasthan. ACME aims to generate 7500 MW by the year 2019. All these projects are to be connected to the grid through a 132 kVA line. 

TechSci Research depicts that Acme, L&T, Tata Power Solar, Welspun, Azure Power, and Mahindra Solar will be the major EPC contactor for Jawaharlal Nehru National Solar Mission (JNNSM) program. Government of India’s has set an ambitious target of 100 GW of solar energy by 2022 under this mission. The target comprises of 40 GW Rooftop and 60 GW through Large and Medium Scale Grid Connected Solar Power Projects with an investment of USD9.0 billion. 

According to released report of TechSci Research “India Solar Power Equipment Market Forecast & Opportunities, 2020”, the solar power equipment market in India is projected to surpass USD4 billion by 2020. Constantly improving solar equipment technologies, advanced manufacturing processes for production of hi-tech equipment and anticipated decline in equipment prices is projected to further drive the solar equipment market over the next five years.