ACME Solar Holdings has won 130 MW in the e-reverse auction carried out under REMC’s 1,000 MW Round-the-Clock (RTC) renewable energy project. The company secured the capacity with a bid of ₹4.35 per unit. The letter of award is expected to be issued within the period set in the tender, reports Business Standard.
The power will be purchased directly by Indian Railways, which needs a steady supply of electricity throughout the day because of its continuous load demands. The Railways will sign direct power purchase agreements with the winning developers. The auction results show that renewable energy, supported by solar, wind and battery systems at the same location, can now provide high-availability power at competitive prices.
Under the terms of the bid, ACME Solar must supply renewable electricity backed by dispatchable sources and energy storage systems from ISTS-connected projects to ensure firm, round-the-clock power, as required in the tender. The project must deliver at least 75% annual availability for the first three years after commissioning and 85% thereafter. This will require a combination of solar capacity, battery storage and additional wind power when needed.
ACME Solar will have 30 months from the signing of the power purchase agreement to commission the project. The company said the work will be supported by land and transmission access already available within its existing portfolio.
