Solar power producer ACME Group has emerged as the largest successful bidder for 160 MW solar PV power projects at the 500 MW tender opening ceremony at Hyderabad floated by Southern Power Distribution Company of Andhra Pradesh (APSPDCL).
This project would entail an estimated investment of $210 million (about Rs 1250 crore). ACME is one of the 51 bidders who took part in the process with others including First Solar and Welspun Energy.
As per the terms and conditions of the bidding document, the selected developer would sign a 25-year-long Power Purchase Agreement with AP Discom. The 160 MW projects would be set up in the three districts of Anantapur, Kurnool and Chittoor in Andhra Pradesh. AP had invited bids to procure 500 MW of solar power. However, it has received bids of more than 1,296 MW.