52-week high alert: Solar and Battery Energy Storage System Company places a 2 GWh BESS order through Posco International Corporation

ACME Solar Holdings Ltd. has placed an order for a 2 GWh Battery Energy Storage System (BESS). The order was secured through a partnership with Posco International Corporation and China FAW Group Import and Export Co., Ltd., and the BESS will be supplied by Chuzhou Lishen New Energy Technology Co., Ltd. This strategic move is part of ACME Solar's plan to deploy the battery systems across its Firm & Dispatchable Renewable Energy (FDRE) and standalone BESS projects.

The battery systems will be delivered in phases over the next six to ten months, with the projects themselves slated for commissioning within the next 12 to 18 months. This order signifies ACME Solar's commitment to enhancing its renewable energy infrastructure with advanced energy storage solutions. The collaboration with Posco and FAW, and the selection of Lishen—a leading global battery manufacturer—underscores the international cooperation involved in advancing green energy projects in India.

About the Company

ACME Solar Holdings is a leading integrated renewable energy player with a diversified portfolio spanning solar, wind, storage, FDRE and hybrid solutions and an operational capacity of 2,890 MW. With an in-house EPC and O&M division, the company does end-to-end development and O&M of the plants, thereby delivering projects in a time & cost-effective manner while ensuring best-in-class operating performance evident in its industry-leading CUF and operating margins.

On Monday, shares of ACME Solar Holdings Limited jumped 6.2 per cent and made a new 52-week high of Rs 314.80 per share from its previous closing of Rs 296.45 per share with heavy volume. The company has a market cap of over Rs 18,000 crore and the stock is up by 89 per cent from its 52-week low of Rs 167.55 per share.

Disclaimer: The article is for informational purposes only and not investment advice.