ACME Solar Holdings has signed a 25-year power purchase agreement with Solar Energy Corporation of India (Seci) for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project, strengthening its position in India’s growing renewable energy and storage segment.
The agreement has been executed through ACME Renewtech Sixth, a wholly owned subsidiary of the company. The project will include 1,200 MWh of energy storage capacity and will be connected to the Inter-State Transmission System (ISTS), according to a regulatory filing.
Under the terms of the agreement, ACME Solar will provide four hours of assured peak power during non-solar hours while maintaining a minimum annual availability of 85 per cent. The company said the project would utilise existing night-time grid connectivity available in high solar irradiation zones to optimise power delivery.
The project was awarded under SECI’s FDRE Tranche-VII tender following a tariff-based competitive bidding process. ACME Solar had received the Letter of Award in February this year after the conclusion of the e-reverse auction.
The company signed the agreement at a tariff of Rs 6.28 per unit. While the original Letter of Award had referred to a 301 MW capacity, the final contracted capacity has been revised to 300 MW following optimisation of the project configuration. The Scheduled Commencement of Supply Date for the project has been fixed as May 28, 2028.
Following the latest agreement, ACME Solar’s total contracted portfolio has increased to 8,070 MW, while its PPA-signed portfolio now stands at 6,570 MW. The company currently operates 2,990 MW of contracted renewable energy capacity and is developing an additional 5,080 MW, including around 18 GWh of battery energy storage systems.
