ACME Aarohi Solar Power Plant

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The project entails the development of a 50 MW solar power plant in Hindupur, District Anantapur, Andhra Pradesh to be developed by Aarohi Solar Pvt Ltd ("Project Company"). The project company is a 100% subsidiary of Acme Cleantech Solutions. This project is a part of the 160 MW of solar PV projects won by Acme Cleantech Solutions as part of the request for proposals issued by Southern Power Distribution Company Limited of Andhra Pradesh (APSPDCL), which attracted 51 bidders and proposals totaling 1,291 MW. A 25-year PPA is signed with APSPDCL. The 160 MW projects would be set-up in the three districts of Anantapur (2 plants with 70 MW capacity), Kurnool (2 plants with 50 MW capacity) and Chittoor (1 plant with 40 MW capacity) in Andhra Pradesh. Acme Cleantech Solutions has obtained financial closure for the entire 160 MW. The total project cost is USD $62.5 million (INR 4.1 billion). Financing comprises a USD $45.7 million (INR3.0billion) 17-year-6-month term loan provided by SBI, IIFC and PFC Green Energy, and equity contribution of USD $16.8 million (INR 223.3million). Financial close occurred on 7 November 2015. Financial adviser to the consortium is SBI Capital Markets and facility agent is SBI. i) Dealogic ii) http://www.pv-magazine.com/news/details/beitrag/acme-wins-160-mw-in-andhra-pradesh-tender_100017015/#axzz40wy5nlHz iii) http://www.thehindubusinessline.com/news/national/acme-bags-160-mw-solar-projects-in-ap-to-invest-rs-1250-cr/article6538304.ece