Gujarat: ACME Solar Commissions Its Maiden Wind Power Project

ACME Solar Secures ₹2,491 Cr Refinancing for 490 MW RE Projects

ACME Solar Holdings Ltd has commissioned the first phase of its maiden wind power project at Shapar, in Gujarat, adding 26.4 MW to its operational capacity as part of the planned 50 MW ACME Pokhran wind project. With the latest addition, ACME’s total operational capacity has increased from 2,705 MW to 2,731.4 MW. The project is being financed by Power Finance Corporation (PFC) and developed using in-house EPC capabilities, deploying Envision 3.3 MW turbines.

The clean energy generated is pooled at a 33/220 kV station and evacuated to the Shapar sub-station via a dedicated 220 kV transmission line. The sub-station will also be shared with ACME’s upcoming 100 MW wind project, currently in advanced stages of construction. The electricity from the Pokhran wind project will be supplied under a 25-year power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL).

ACME Solar’s Expansion and Land Acquisition Plans

During an investor call on its Q4FY25 financial results, Nikhil Dhingra, Chief Executive Officer of ACME Solar, said: “Our 50 MW wind project is under commissioning. We have received final approval for around 26.5 MW, which we aim to commission this week, with the remaining capacity targeted for commissioning in the next 10 days. The balance 100 MW is in an advanced stage of construction.”

On land acquisition, the company said, “For our PPA-signed and under-construction projects, we have acquired over 50% of the required land for the solar component and over 60% for the wind component. We have also applied for more than 10,000 acres of government land, currently under various stages of approval, to support both our ongoing and future pipeline projects.”

Strategy and Market Outlook

Regarding its bidding strategy, the company added: “Rather than being aggressive in bidding, we are focusing on early execution. For instance, we have already built a merchant plant in Sikar, which offers strategic flexibility. We can quickly plug this capacity into any secured or future PPA and commission it immediately. The merchant market currently offers healthy tariffs, especially given the ongoing peak deficit.”

GUVNL Floats 500 MW Solar Tender With Greenshoe Option

Also Read

Addressing Wind Power Challenges

Responding to investor concerns on wind underperformance in recent years, particularly in relation to firm and dispatchable renewable energy (FDRE) and hybrid tenders, Nikhil Dinghra said, “You’re right about the past performance of wind. While the technology is useful, its predictability is lower than solar. Our long-term experience with solar — which is more predictable and technology-driven — supports its viability as a cheaper and stable energy source for utilities.”

PM-KUSUM: Gujarat Farmers to Earn Rs 2.83/Unit for Surplus Solar

Also Read

He added: “Our foray into wind was driven by hybrid and FDRE project opportunities. That’s why we’re executing a relatively small 150 MW project in Gujarat. Now, with battery prices falling, the cost-effectiveness of wind in hybrid setups is also improving.”