Companies

ACME, Solaire Direct, Azure win mandate for solar power projects in Punjab

M Ramesh Chennai | Updated on March 23, 2015 Published on February 19, 2015

Delhi-based ACME, French company Solaire Direct, Crocus Infra, and the American firm, Azure Power, are among those that have won mandates to put up solar power projects in Punjab.

Solar projects

The Delhi-based ACME group has won rights to put up 74 MW solar power projects in a bidding process put through by the Punjab Electricity Development Agency (PEDA). It has won 24 MW, bidding a tariff of ₹7.16 a kWhr and another 50 MW for ₹7.06 kWhr.

The group will put up these projects in the State with an investment of ₹600 crore and the electricity will be sold to the State electricity distribution company at these tariffs.

With this, ACME’s total solar projects under development in the country have crossed the 700-MW-mark. Crosus picked up 44 MW (20 MW for ₹7.42; 20 MW for ₹7.56 and 4 MW for ₹7.45).

Solaire Direct got 54 MW (for ₹6.88 a kWhr) and Azure Power, 28 MW (24 MW for ₹7.19 and 4 MW for ₹7.33)

PEDA had issued a tender to buy solar electricity from 250 MW of projects. The total capacity was divided into three categories, with maximum bidding capacity of 24 MW, 50 MW and 5 MW by a single company under each category.

ACME won the highest allowed in the first two categories.

It is understood that India Bulls, Azure Power, Solaire Direct and Welspun have also won projects through this round of bidding.

Second tender

This is the second tender of PEDA. The first was in 2013, when the State selected companies to build 300 MW of solar power projects. Then, 27 companies won a mandate to put up solar plants of 251 MW and sell electricity at tariffs arrived at through the bidding process.

Back then, all but four of the 27 quoted tariffs higher than ₹8.24. Of the four, only two of 2 MW each, were below ₹7.50, one of them ₹7.47 and the other ₹7.20.

Punjab is a state of 50,000 sq km land, home to 27.7 million Punjabis.

The State enjoys solar radiation of 5-5.5 kWhr/metre square per day.

Published on February 19, 2015
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