ACME Solar signs 300 MW PPA with SECI for 25 years
ACME Solar Holdings executed a 25-year Power Purchase Agreement with SECI for a 300 MW FDRE project via its subsidiary ACME Renewtech Sixth Private Limited. The project, secured at a tariff of ₹6.28 per unit, is scheduled to commence supply on May 28, 2028. This agreement increases the company's PPA-signed portfolio to 6,570 MW from a total contracted portfolio of 8,070 MW.
*this image is generated using AI for illustrative purposes only.
ACME Solar Holdings has executed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI) for a 300 MW/1200 MWh capacity under the Firm and Dispatchable Renewable Energy (FDRE) Tranche VII – Assured Peak Power Project. The agreement was signed through the company's wholly-owned subsidiary, ACME Renewtech Sixth Private Limited, securing a tariff of ₹6.28 per unit for a project tenure of 25 years. The Scheduled Commencement of Supply Date (SCSD) is set for May 28, 2028. This development raises the company's PPA-signed portfolio to 6,570 MW out of a total contracted portfolio of 8,070 MW.
The project was awarded under SECI's FDRE Tranche-VII tender, following a Letter of Award (LOA) dated February 10, 2026. The tender was conducted under Tariff-Based Competitive Bidding (TBCB) guidelines, with an e-reverse auction held on February 02, 2026. The executed PPA covers a contracted capacity of 300 MW, a reduction from the 301 MW capacity initially referenced in the LOA — a change mutually agreed upon for the optimisation of project configuration and implementation.
Key Project Details
The following table outlines the significant terms of the agreement:
| Particular: | Details |
|---|---|
| Name of entity awarding the order: | SECI Limited |
| Nature of contract: | Power Purchase Agreement |
| Contract capacity: | 300 MW / 1200 MWh |
| Tariff: | ₹6.28 per unit |
| Scheduled Commencement of Supply Date: | May 28, 2028 |
| Project tenure: | 25 years from SCSD |
| Grid connectivity: | Inter-State Transmission System (ISTS) |
The FDRE project will be connected to Inter-State Transmission System (ISTS) substations and will utilise ACME Solar's existing night-time connectivity available at high irradiation zones. Under the PPA, the company will supply four hours of assured peak power exclusively during non-solar hours, with a minimum annual availability requirement of 85%.
Company Portfolio Overview
ACME Solar Holdings is an integrated renewable energy player with a diversified portfolio spanning solar, wind, storage, FDRE, and hybrid solutions. The table below summarises the company's current capacity position:
| Metric: | Details |
|---|---|
| Operational Contracted Capacity: | 2,990 MW |
| Battery Energy Storage System (BESS) Capacity: | ~2.7 GWh |
| Under-Construction Capacity: | 5,080 MW |
| Under-Construction BESS: | ~18 GWh |
| Under-Construction PPA-Signed Portfolio: | 3,580 MW |
| Total PPA-Signed Portfolio (post-deal): | 6,570 MW |
| Total Contracted Portfolio: | 8,070 MW |
With this PPA, ACME Solar continues to expand its dispatchable renewable energy commitments, reinforcing its position as a key participant in India's clean energy transition through firm and peak-hour power supply obligations.
Historical Stock Returns for ACME Solar Holdings
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.04% | +0.27% | +21.68% | +44.06% | +32.16% | +32.47% |
How will the capital expenditure for the 1200 MWh storage component impact ACME Solar's leverage ratios given the current high interest rate environment?
What specific battery storage technology chemistry will ACME Solar deploy to meet the 85% annual availability requirement over the 25-year tenure?
Does the ₹6.28 tariff provide sufficient IRR cushion to absorb potential cost escalations in battery supply chains before the 2028 commencement date?
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