DECEMBER, 20259AUSTRALIA SEEKS STRONGER CRITICAL MINERALS TIES WITH INDIAACME SOLAR, SECI SIGN PPA FOR 200 MW SOLAR BATTERY PROJECTRecently, ACME Solar announced that its fully-owned subsidiary ACME Platinum Urja signed an agreement with the Solar Energy Corporation of India (SECI) for a 200 MW solar project plus energy storage system (ESS) of 100 MW/400 MWh. The tariff set by SECI is 3.42/ unit.ACME Solar has signed a solar PPA India with SECI for a 200 MW solar project, a solar plus storage project featuring battery storage India, contributing to renewable energy India and strengthening green energy infrastructure.SECI issued a Letter of Award to ACME Solar for 350 MW of total capacity in July 2024. ACME Solar had already signed a PPA for 150 MW in October 2024. The recent agreement has now allowed the project to be fully covered under a PPA, which represents a major development milestone for ACME Solar.ACME Solar, as part of various commitments made through their PPAs (Power Purchase Agree-ments), will have an expected CUF of 25 percent-27 percent to deliver power under Solar Hours.Additionally, ACME is required to maintain a minimum of a 70percent monthly and an 85percent annual availability percentage during evening peak hours throughout the term of the project. The expected date of commissioning is set for June 2027.As a result of hitting this target, the cumulative number of mw of PPA renewals signed during the current fiscal year (April 1, 2023 to March 31, 2024) total 800 MW. In addition to the renewable capacity offering, they offer a battery storage capacity of 2,320 MWh.Thus far, the company has signed PPAs totalling a total of 5,380 MW of contracts, securing its status as a key participant in the Indian renewable energy market and its dedication to furthering the transition to clean and dependable energy sources for the nation. IMRAccording to Philip Green, Australian High Commissioner to India, Australia wants to bolster its cooperation with India regarding critical minerals, especially lithium and cobalt.Critical minerals were one of the main focal points during Australian Foreign Minister Penny Wong's recent visit to New Delhi, reflecting the strategic nature of the discussions about the critical minerals agenda.The Australia India partnership on critical minerals was highlighted by the Aussie envoy ahead of the Quad Summit New Delhi, emphasizing strategic minerals cooperation and Indo-Pacific security.The High Commissioner stated, "Australia produces more than half of the world's lithium, for example, and India is on the way to becoming a major recipient of lithium from around the world as it embarks on its journey to become a big producer of batteries and electric vehicles".Green noted that Australia is keen to smooth that partnership and stated that the Australian Critical Minerals Office has been working with India's Ministry of Mines.Over the last few years, they identified five major lithium and cobalt projects for potential equity investment or offtake agreements to Indian private sector partners.He also pointed to the agreement on critical minerals recently signed by Australia and the United States and expressed optimism regarding increasing activity in the Quad framework.While confirming that the next steps of the Quad will be determined by leaders and foreign ministers of the member nations, Green described the Quad as "enormously important" against a backdrop of a more competitive and disrupted global environment.He added, "In an era of global disruption, the relationship between India and Australia remains very stable. There is a high level of strategic trust, and we want to be a reliable partner for India and for all other peace-loving countries in the region".The High Commissioner emphasized the role of the Quad as a powerful vector in supporting stability, prosperity and peace in the Indo-Pacific. This year has already seen two significant Quad foreign ministers' meetings which were both massively successful.Green then expressed Australia's excitement regarding India hosting the next Quad Leaders' Summit with Prime Minister Anthony Albanese looking forward to visiting India as soon as India's Prime Minister Narendra Modi announces the dates. IMRTOP STORIES· ACME Solar, via its subsidiary ACME Platinum Urja, signs a PPA with SECI for a 200 MW solar project· The agreement completes PPA coverage for the full 350 MW capacity· Following this milestone, ACME Solar has signed PPAs for 800 MW in the current financial year· India-Australia partnership on lithium and cobalt projects· Strategic role in Indo-Pacific stability and prosperity· Strengthening ties and preparing for the next Quad Leaders' Summit
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