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August 01, 2015 6:23 AM ET

Real Estate Management and Development

Company Overview of ACME Group

Company Overview

ACME Group develops commercial properties and residential projects in India. The company was founded in 1976 and is based in Mumbai, India.

Acme Ghar

19, K.D.Road

Vile Parle (West)

Mumbai,  400 056

India

Founded in 1976

Phone:

91 22 2671 8883

Fax:

91 22 2671 0976

Key Executives for ACME Group

Managing Director and Director
Compensation as of Fiscal Year 2015.

ACME Group Key Developments

ACME Group Signs PPA for 30MW Solar Project with Uttar Pradesh

ACME announced that it has signed the PPA for 30MW solar PV power projects with Uttar Pradesh Power Corporation Limited. The power plant will be set-up at Mahoba District over 607,028sqm of land. As per the terms and conditions of the agreement, ACME Group would provide approx. 50 million units power annually for a period of 12 years at a tariff of INR 8.93/KWh and thereafter, it would supply power for further 13 years at the price of eleventh year Average Pooled Purchase Cost(APPC). This project would entail an estimated investment of approx INR 2.25 billion. The work on the project shall commence by November 2015 and will be commissioned by August 2016. This will be evacuated by 132KV line connecting the power plant to the State grid. The company aims to generate 7,500MW by the year 2017. ACME showcased its prowess in solar PV technology through its 25MW plant at Khilchipur, Madhya Pradesh that achieved a record output of 25GWh in six months of installation, a record in maximum power output by any solar power plant of that scale.

ACME Group Signs PPA for 30 MW Solar PV Power Projects with Chhattisgarh State Utility

ACME Group has signed the PPA for 30 MW solar PV power projects with Chhattisgarh State Power Distribution Company Limited. As per the terms and conditions of the agreement, ACME Group would provide approx. 50 mn units power annually for a period of 25 years at a tariff of INR 6.46 /KWh. This project would entail an estimated investment of approx $40 mm/INR 2,100 million. The work on the project shall commence by June 2015 and will be commissioned by December 2015. This will be evacuated by 33 K & above line connecting the power plant to nearest grid. The state is already leading in Thermal power generation by enabling effective utilization of its natural resources. The State Government now aims to promote renewable energy in a big way so as to achieve sustainable development in the state.

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