600 MW NTPC Solar Project Is Not Feasible: Acme Solar

In Clean News, News, Renewable Energy, Solar

Acme Solar had won the 600 MW project in an auction conducted by NTPC last August where it quoted a tariff of Rs 2.59 per unit.

According to the terms of the power purchase agreement (PPA) it signed with NTPC, the output was meant for Telangana, and the tariff, trading margin and contracted capacity had to be approved by the Telangana State Regulatory Commission (TSERC) within two months of signing the PPA, failing which it would stand terminated.

Telangana was expected to procure the power from NTPC.

The two-month deadline has lapsed and Acme has not received confirmation from NTPC about the approval of such tariff.

The PPA stands cancelled and terminated with no liability of Acme to NTPC. Further as the PPA stands cancelled and terminated, Acme has requested NTPC to return the BG (Bank Guarantee) immediately.

To sum up, Acme Solar has clearly told NTPC that the 600 MW project it had won in an auction is no longer feasible as the power purchase agreement (PPA) stands terminated in the absence of necessary regulatory approvals, and has asked the state-run power major to return its bank guarantee.

Reference- Economic Times, Acme Solar PR

Join Our Newsletter!

Love Clean Future? We love to tell you about our new stuff. Subscribe to newsletter!

Mobile Sliding Menu

Clean Future