ACME Solar Holdings Limited, through its subsidiary ACME Renewtech Fifth Private Limited, has executed a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI). This agreement is for a 300 MW ISTS-connected Wind-Solar Hybrid Renewable Energy Project under Hybrid Tranche IX. The project’s tariff has been approved by regulators, and it is set to commence supply by 30.06.2028, with a project tenure of 25 years.
ACME Solar Secures Major Hybrid Project Deal
ACME Solar Holdings Limited (ACME Solar), via its wholly-owned subsidiary ACME Renewtech Fifth Private Limited, has successfully entered into a significant Power Purchase Agreement (PPA). This 25-year PPA is with the Solar Energy Corporation of India Limited (SECI) and is designated for a 300 MW ISTS-connected Wind-Solar Hybrid Renewable Energy Project. The project is part of the ‘Hybrid Tranche IX’ initiative.
Project Details and Timeline
The agreement outlines key terms including a contract capacity of 300 MW and a project tenure of 25 years from the Scheduled Commencement of Supply Date (SCSD), which is set for 30.06.2028. The consideration for the project is set at a tariff of Rs. 3.25 per unit. The tariff has already received approval and adoption from the relevant Central and State Regulators.
Strategic Significance for ACME Solar
This PPA execution is a crucial step for ACME Solar in expanding its renewable energy portfolio. The Hybrid RE Project will leverage the company’s existing connectivity at high-irradiation and wind zones and will be connected to ISTS substations. Under the PPA, ACME Solar is committed to supplying power at a minimum annual capacity utilization factor (CUF) of 30%. Following this agreement, ACME Solar’s PPA-signed portfolio now stands at 6,870 MW, contributing to its total contracted portfolio of 8,070 MW.
About ACME Solar Holdings
ACME Solar Holdings Limited is recognized as a leading integrated renewable energy player. The company boasts a diversified portfolio encompassing solar, wind, storage, FDRE, and hybrid solutions. It currently has an operational contracted capacity of 2,990 MW and approximately 3.62 GWh of BESS capacity. Additionally, it has 5,080 MW in under-construction contracted capacity, with 3,880 MW of that figure being PPA-signed projects under construction. ACME Solar operates with an in-house EPC and O&M division, ensuring end-to-end project development and management.
Source: BSE
