ACME Solar Holdings Limited announced that its wholly-owned subsidiary, ACME Marigold Urja Private Limited, has executed a Power Purchase Agreement (PPA) with NTPC Limited. This agreement is for a 400 MW Firm and dispatchable Renewable Energy (FDRE) power project. The project is part of NTPC’s FDRE Tranche 01, with a contract capacity of 400 MW. The agreement is for a project tenure of 25 years, with a scheduled commencement of supply by June 30, 2028, at a tariff of ₹4.37 per unit.
Major Power Purchase Agreement Signed
ACME Solar Holdings Limited has informed stakeholders about a significant development in its renewable energy portfolio. Its wholly-owned subsidiary, ACME Marigold Urja Private Limited, has successfully executed a Power Purchase Agreement (PPA) with NTPC Limited. This agreement marks a crucial step for the company’s expansion in the renewable energy sector.
Project Details and Contract Terms
The PPA is for a project focused on generating Firm and dispatchable Renewable Energy (FDRE). The contract capacity stands at an impressive 400 MW and is part of NTPC’s FDRE Tranche 01 initiative. The project’s estimated tenure is 25 years, commencing from the Scheduled Commencement of Supply Date (SCSD), which is set for June 30, 2028. The agreed-upon tariff for the power supplied under this PPA is ₹4.37 per unit.
Strategic Significance
This PPA is a testament to ACME Solar’s growing presence and capability in developing large-scale renewable energy projects. The agreement with NTPC, a major power utility, provides a strong foundation for future revenue generation and reinforces the company’s commitment to sustainable energy solutions. The information regarding this agreement has been disclosed in accordance with regulatory requirements and is also available on the company’s website.
Source: BSE
