ACME Solar's 150 MW Hybrid Solar Project Powers Ahead with SECI Deal

ACME Solar Holdings' special purpose vehicle, ACME Platinum Urja, has signed an agreement with the Solar Energy Corporation of India to supply 150 MW of hybrid solar power. This project forms part of a larger 350 MW capacity and will connect to Karnataka's transmission network, with IPO plans for ACME Solar pending regulatory approval.

ACME Solar Holdings has announced a significant breakthrough as its special purpose vehicle, ACME Platinum Urja, secures a power supply agreement with the Solar Energy Corporation of India. This deal, involving a 150 MW hybrid solar capacity, represents a key milestone in ACME's advancement in the renewable energy sector.

The project comes as part of an overall 350 MW capacity granted to ACME Solar Holdings by the Solar Energy Corporation of India. This strategic initiative is designed to bolster India's energy infrastructure by integrating solar power with cutting-edge energy storage solutions (ESS).

In a noteworthy development, ACME Solar Holdings is also gearing up for an initial public offering, contingent upon approvals and market conditions, as indicated in the recently filed draft red herring prospectus with the Securities and Exchange Board of India.

(With inputs from agencies.)