India based solar power company ACME Group has won a bid to build 446MW solar power projects in the state of Telangana.
ACME Group has received the largest share from the proposed 2,000 MW tender, which is being floated by two state-run, firms Telangana Southern Power Distribution Company Limited (TSPDCL) and Northern Power Distribution Company of Telangana Limited (TSNPDCL).
As per the deal, the Delhi based solar power company will develop projects across 18 locations by December next year.
In April, the state government decided to purchase 2,000 MW solar power through competitive bidding to overcome the power deficit.
The power generation capacity of these projects will vary from 2MW to 150MW.
ACME group Founder Manoj Kumar Upadhyay said: "The success of the largest solar power tender in India reflects the country’s focus towards solar power.
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By GlobalData"We are also grateful to the Government for their roadmap and the solar policy for the state and offer our complete support to make the state an ideal one for green energy.
"The emergence of ACME Solar in the bid has further strengthened our position as the leading solar power producer in the country with more than 1 GW projects in the pipeline."
ACME won the bid beating out competition from 85 companies and so far it has won bid to develop 1000 MW of solar projects.
The company has signed 25 year power purchase agreement (PPA) with the state, under which it will supply power to the state.
