Stock Market Today: Mid-cap renewable energy stock gained 4.5% during the intraday trades on Monday. The commissioning of a solar power project by ACME Solar Holdings Ltd, lifted investor confidence

ACME Solar Holdings solar power project commissioning details

Mid-cap renewable energy stock , ACME Solar Holdings intimated the National Stock Exchange of India and the BSE (Bombay Stock Exchange) about the commissioning of first phase of 52.5 MW out of 300 MW solar power project in Rajasthan by wholly owned subsidiary of ACME Solar Holdings Limited

As per the update by Mid-cap renewable energy stock , ACME Solar Holdings has successfully commissioned the first phase of ACME Sikar Solar power project in Bikaner, Rajasthan.

The current commissioning of 52.5 MW is part of the 300 MW solar project to be fully commissioned in phases.

The company’s overall operational capacity has grown from 2,540 MW to 2,592.5 MW with this milestone.

It is positioned to make a significant contribution to India’s renewable energy targets due to its advantageous location in one of the country’s highest solar irradiation zones.

The ACME Sikar Solar power project is located in Bikaner, Rajasthan, and spans about 1300 acres.

A dedicated single circuit 220 kV transmission line is used to step up the clean energy captured by this project for evacuation to the Bikaner-II grid after it has been pooled at inverter stations.

After it is fully commissioned, this project, which was funded by PFC Limited, is expected to produce about 780 million units of clean energy annually.

The project’s electricity will be sold on merchant-based power exchanges and distributed appropriately based on the best possible commercial use.

Mid-cap renewable energy stock , ACME Solar Holdings share price movement

Mid-cap renewable energy stock , ACME Solar Holdings share price opened at ₹215.85 on Monday. At the time of opening, the Mid-cap renewable energy stock , ACME Solar Holdings share price was around 1.6% higher than previous day closing price of ₹212.45. The Mid-cap renewable energy stock , ACME Solar Holdings share price however gained to intraday highs of ₹233 , which meant gains of around 4.5% for the stock.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.