ACME Solar’s Subsidiary Secures INR 47.40 Crore Change in Law Compensation from RERC
ACME Solar Holdings Limited subsidiary - ACME Aklera Power Technology Private Limited has secured an award of ~ INR 47.40 crore as change in law compensation by the Rajasthan Electricity Regulatory Commission (RERC) for its 250 MW solar project contracted with SECI. The awarded compensation includes compensation towards imposition of basic customs duty on solar cells and modules, increase in GST from 5% to 12%, and carrying cost. The total amount is to be received through an annuity mechanism at a discount rate of 9% over a period of 15 years, ensuring fair recovery of unforeseen regulatory cost increases and protecting project economics. This RERC order has reinforced investors and developers’ confidence, underscoring a supportive regulatory environment for renewable energy growth in the country.
Key Highlights
- ACME Solar’s subsidiary awarded INR 47.40 crore as Change in Law compensation by RERC
- Compensation includes costs due to basic customs duty on solar cells and modules, increase in GST, and carrying cost
- Total amount to be received through an annuity mechanism at a discount rate of 9% over 15 years
- RERC order reinforces investors and developers’ confidence in renewable energy growth
- ACME Solar is a leading integrated renewable energy player with 2.9 GW operational capacity and 4.5 GW under construction capacity, including 13.5 GWh of BESS installation