ACME Solar Holdings (NSE:ACMESOLAR, BOM:544283) has received a letter of award from Tata Power (NSE:TATAPOWER, BOM:500400) for a 50 MW firm and dispatchable renewable energy (FRDE) project, according to a Wednesday filing to the Indian stock exchanges.
The project has been awarded at a tariff of 4.43 Indian rupees per unit in a 250 MW FDRE tender floated by Tata Power.
The project will combine various renewable energy technologies, including solar and battery energy storage system (BESS), to meet the supply obligations under a 25-year power purchase agreement.
The project is expected to be completed in 24 months.
The company's shares were up nearly 3% in recent trade.