ACME Solar and Hexa Climate Win Big in NTPC's Renewable Energy Bid

ACME Solar Holdings, Hexa Climate Solutions, and Avaada Energy have won bids for significant firm and dispatchable renewable energy projects. They secured capacities of 400 MW, 300 MW, and an undisclosed amount, respectively, in an NTPC auction. ACME Solar is also preparing for its initial public offering.

ACME Solar Holdings and Hexa Climate Solutions emerged as top contenders in NTPC's auction for firm and dispatchable renewable energy (FDRE) projects, securing capacities of 400 MW and 300 MW, respectively. These projects are crucial in providing round-the-clock power and meeting renewable purchase obligations.

Industry insiders revealed that ACME Solar Holdings clinched the 400 MW project at a tariff of Rs 4.69 per unit, while Hexa Climate Solutions acquired 300 MW via reverse auction. Avaada Energy succeeded in obtaining the remaining portion of the 760 MW FDRE capacity up for grabs in the bid that opened on November 6.

ACME Solar, based in Gurugram, is currently in the process of listing its shares on the stock exchange, having already raised Rs 1,300 crore from anchor investors. Meanwhile, Avaada Energy is on a trajectory to reach an installed capacity of 11 GWp by 2026, signaling robust growth in the renewable energy sector.

(With inputs from agencies.)