ACME Solar has been granted a ₹47.4 crore compensation following a ruling by the Rajasthan Electricity Regulatory Commission (RERC) regarding a ‘Change in Law’ event. This relates to increased GST and Basic Customs Duty on solar modules and cells. While RERC disallowed certain claims, ACME intends to appeal. The compensation will be paid through an annuity mechanism.
Change in Law Compensation Awarded
ACME Solar, through its subsidiary ACME Aklera Power Technology Private Limited, has received an order from the Rajasthan Electricity Regulatory Commission (RERC) granting compensation for a Change in Law event. The order, dated November 13, 2025, awards a total of approximately ₹47.4 crore.
Details of the Compensation
The compensation comprises approximately ₹30.98 crores for Basic Customs Duty (BCD) and approximately ₹8.94 crores for Goods and Services Tax (GST). The RERC also approved carrying costs of approximately ₹7.50 crores. This addresses the impact of increased GST rates (from 5% to 12%) and the imposition of BCD on solar modules and cells.
Payment Terms and Disallowed Claims
The awarded amount will be disbursed through an annuity mechanism at a 9% discount rate over a period of 15 years, or the remaining term of the Power Purchase Agreement (PPA), whichever is shorter. Payments are scheduled to commence within 60 days of the order or the submission of claims. However, RERC has disallowed certain claims of BCD and GST amounting to approximately ₹7.82 crores, which the Company intends to appeal before the Appellate Tribunal for Electricity.
Source: BSE
