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SEI, Azure Power, ACME grabbed most of new solar project

According to reports, private players such as SEI, Azure Power India and ACME grabbed most of the solar projects bid under first batch of second phase of Jawaharlal Nehru National Solar Mission (JNNSM). The financial bids for 750 mw of new capacities were opened on Friday.

On the other hand, companies such as Welspun Renewables Energy, Shapoorji Pallonji Solar and Renew Solar Power did not qualify for any projects.

SEI and Azure Power were successful in bagging about 100 mw of projects each, while ACME got nearly 80 mw of new capacities. Companies such as SEI and ACME bid under different subsidiaries.

Commenting after the bidding process, Manoj Kumar Upadhyay, Chairman of ACME Solar said, “The emergence of ACME Solar in the bid has further strengthened our position as the leading solar power producer in the country.”

ACME Solar is a joint venture between ACME, France-based EDF Energies Nouvelles (EDF EN), and Luxembourg-based EREN. The joint venture has an existing portfolio of 67.5 mw and targets to have solar power generation portfolio of 1000 mw by 2017.

Other companies that bagged solar projects include Tata Power Renewable Energy (35 mw); IL&FS Energy Development (40 mw); Solairedirect Energy India (30 mw); Gujarat Power Corporation (10 mw); Hero Solar Energy (20 mw); Today Homes and Infrastructure (40 mw).

In second phase, the Government offered projects under two batches of 375 mw each – first where the developers must procure equipment from domestic manufacturers and the second with no such restrictions.

Azure grabbed the maximum projects under the first category, while ACME emerged as the largest developer in the open category.

The latest bidding has attracted good response for more than 120 projects from nearly 68 companies. Of this, five players were disqualified on technical grounds and 63 were asked to submit price bids.

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