ACME Solar Holdings Limited has signed a Power Procurement Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 300 MW / 1,200 MWh assured peak supply project. The deal, executed through subsidiary ACME Greentech Twenty Pvt Ltd, carries a tariff of ₹6 per unit and became effective on October 6, 2026.

This agreement falls under SECI's Flexible Dispatchable Renewable Energy (FDRE) IX tranche. The project is designed to supply dispatchable clean power during evening and night-time peak demand hours, addressing grid stability concerns as renewable energy penetration increases in India's power mix.

Project specifications and technology

Under the terms of the PPA, ACME Solar will supply 4 MWh per MW of contracted capacity for four hours daily during non-solar hours. The company must maintain a minimum availability of 90% on a monthly basis. To meet these obligations, the project will integrate a combination of Solar and Battery Energy Storage System (BESS) technologies. The setup will utilize existing night-time connectivity available with the company.

Portfolio expansion

Following this signing, ACME Solar's under-construction contracted portfolio stands at 4,310 MW out of a total under-construction contracted capacity of 5,380 MW. This addition reinforces the company's position in the flexible renewable energy segment.

What the numbers show

The new PPA adds significantly to ACME Solar's operational pipeline. With an operational capacity of approximately 3,123 MW and 4.96 GWh of BESS capacity already in place, the new 300 MW FDRE project represents a substantial increment to its contracted base. The integration of BESS with solar generation allows the company to monetize renewable energy during peak pricing windows, distinct from traditional daytime-only solar sales. The tariff of ₹6 per unit provides visibility on revenue streams for this specific high-value time block.

ACME Solar Holdings Limited has formed a wholly owned subsidiary, ACME Renewables FZCO, in the United Arab Emirates. The entity was incorporated on October 14, 2026, to support the company's renewable energy operations through procurement and supply chain management.

The new subsidiary will serve as a platform for project support and ancillary functions. A key strategic objective is the hedging of critical raw materials such as lithium carbonate and polysilicon, which are sourced from international markets. This move aims to stabilize input costs and enhance operational efficiency in the company's renewable energy business.

Subsidiary details

The incorporation was disclosed via a filing to BSE and NSE under Regulation 30 of the SEBI LODR Regulations. The entity is registered as a Free Zone Company (FZCO) in the UAE, reflecting a strategic geographic choice for international trade and logistics.

Strategic focus areas

The subsidiary’s primary role involves managing the supply chain for renewable energy systems, components, and storage products. By establishing a presence in the UAE, the company can better access global markets for essential commodities.

• Procurement of renewable energy components
• Supply chain management and logistics
• Project support services
• Hedging of raw materials including lithium carbonate and polysilicon

The company noted that no specific governmental or regulatory approvals were required beyond standard incorporation procedures in the UAE free zone. The issued share capital stands at AED 10,000, divided into 10,000 ordinary shares of AED 1 each.