Introduction:
Solar stock secured a 250 MW Firm & Dispatchable Renewable Energy project in an NHPC auction at ₹4.56/unit, with potential expansion to 500 MW, boosting its renewable portfolio to 6,970 MW and reinforcing its commitment to sustainable energy solutions.
Share Price movement of ACME Solar Holdings:
On December 11, 2024, Acme Solar Holdings Ltd (NSE : ACMESOLAR) opened at ₹272.00, reached an intraday high of ₹275.60, and closed at ₹268.15, down 0.79% from its previous close of ₹271.10. The company’s market capitalization stood at ₹16,273.84 crore.
ACME Solar Holdings’s new project:
Acme Solar Holdings Limited has secured a 250 MW Firm & Dispatchable Renewable Energy (FDRE) project at a tariff of ₹4.56 per unit in an NHPC e-reverse auction held on December 10, 2024. The project includes a green-shoe option to expand capacity to 500 MW, raising Acme Solar’s total portfolio to 6,970 MW.
The auction aimed to procure 1,200 MW of renewable energy integrated with Energy Storage Systems (ESS), ensuring a reliable and stable energy supply through a mix of solar, wind, and battery technologies. Acme Solar’s commitment includes delivering four hours of peak supply, addressing India’s high-demand energy needs effectively.
Nikhil Dhingra, CEO of Acme Solar, highlighted the company’s 930 MW committed portfolio with NHPC and plans to utilize CTU connectivity in Rajasthan and Gujarat. The project is expected to achieve commercial operation by FY 2027-28, contingent on signing the PPA by early FY 2026.
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Recent news About ACME Solar Holdings:
ACME Solar Holdings’ listing price was ₹251 per share on the National Stock Exchange (NSE) and ₹259 per share on the BSE Sensex on November 13, 2024. This was a discount of 13.14% and 10.3% respectively from the issue price of ₹289 per share.
Stock performance of ACME Solar Holdings for Period of 1 week:
Acme Solar Holdings Ltd’s stock performance over the past week saw a decline of 3.68%, reflecting short-term market volatility. Investors may monitor the stock for potential recovery and assess its alignment with broader trends in the renewable energy sector.
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Shareholding pattern of ACME Solar Holdings:
| Summary | Nov 12, 2024 |
| Promoter | 83.40% |
| FII | 6.70% |
| DII | 5.80% |
| Public | 4.10% |
About ACME Solar Holdings:
ACME Solar Holdings is a leading renewable energy company specializing in solar power development, with a portfolio of 6,970 MW. It focuses on sustainable energy solutions, integrating solar, wind, and energy storage technologies to deliver reliable, eco-friendly power across India.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
