ACME to set up solar plant in UP.

ACME Group said recently that it has signed power purchase agreements for 30 MW of solar PV power projects with the Uttar Pradesh Power Corporation Ltd. The company will set up the plant in Mahoba district at a cost of Rs. 225 crore. The plant will provide about 50 million units annually for 12 years at a tariff of Rs. 8.93 a unit. After the first 12 years, the company will supply power for a further 13 years at the price of the 11th year average pooled purchase cost. Work on the plant will commence by November and commissioning is proposed by 2016.

HBL