ACME Solar Holdings has secured a significant renewable energy project in Madhya Pradesh, marking another milestone in its expanding portfolio. The company received a Letter of Award from Rewa Ultra Mega Solar Limited for developing a 220 MW solar project integrated with Battery Energy Storage System technology.

Project Specifications and Commercial Terms

The awarded project forms part of a larger 440 MW tender floated by RUMSL for the Morena Solar Park in Madhya Pradesh. The tender was conducted under tariff-based competitive bidding guidelines with an e-reverse auction held in September 2025.

Technical Requirements and Infrastructure

The project incorporates specific technical requirements designed to optimize power supply during peak demand periods. The system must deliver 4 hours of peak supply daily, split between morning and evening periods, maintaining 95% annual availability.

Charging energy for evening peak supply will be sourced directly from the solar plant, while energy for morning peak supply will be provided free of cost by the procurer during night hours. RUMSL will provide land and evacuation infrastructure above 33 kV level as part of the solar park facilities.

Regulatory and Compliance Framework

The project benefits from reduced GST rates and must adhere to ALMM List-I (Approved List of Models and Manufacturers - List I) requirements. The Power Purchase Agreement will be executed with Madhya Pradesh Power Management Company Limited and RUMSL.

Company Portfolio Context

ACME Solar Holdings Limited operates as an integrated renewable energy player with a diversified portfolio spanning 8,071 MW across solar, wind, storage, FDRE and hybrid solutions. The company maintains operational contracted capacity of 2,966 MW and under construction contracted capacity of 5,105 MW, including approximately 17 GWh of BESS installation. The under construction PPA signed portfolio stands at 2,664 MW.

With in-house EPC and O&M capabilities, the company handles end-to-end development and operations of renewable energy projects, focusing on time and cost-effective delivery while maintaining industry-leading capacity utilization factors and operating margins.

ACME Solar Holdings Limited has strengthened its leadership team with the appointment of Rahul Kaushik as Head of Process Transformation, effective February 4, 2026. This strategic hire underscores the company's commitment to building robust governance frameworks and operational excellence across its rapidly expanding renewable energy portfolio.

Strategic Leadership Addition

Kaushik's appointment comes as ACME Solar focuses on institutionalizing future-ready processes and governance frameworks. In his new role, he will collaborate closely with the leadership team to drive optimization of business processes, with particular emphasis on risk management, internal controls, and operational excellence to support the company's next phase of growth.

Extensive Industry Experience

The new appointee brings nearly two decades of specialized experience in internal audit and risk advisory services. His professional background includes:

• Leadership Roles: Previously headed the Internal Audit function at O2 Power
• Consulting Experience: Worked with major firms including Ernst & Young, KPMG, and Grant Thornton
• Sector Expertise: Extensive experience across renewable energy, infrastructure, real estate, manufacturing, pharmaceuticals, and food and beverage industries
• Advisory Services: Has advised Boards, Audit Committees, Investors, and CXOs on strengthening governance and internal control environments

Key Responsibilities and Mandate

Kaushik's mandate centers on helping ACME Solar build scalable processes that can accommodate the company's growth trajectory while maintaining high standards of governance and risk management.

Company Portfolio Overview

ACME Solar Holdings Limited operates as a leading integrated renewable energy player with a comprehensive portfolio spanning multiple technologies and development stages:

The company's portfolio encompasses solar, wind, storage, FDRE, and hybrid solutions, supported by in-house EPC and O&M divisions that enable end-to-end development and operations.

Strategic Governance Focus

This appointment reflects ACME Solar's broader commitment to institutionalizing strong governance practices, transparent processes, and best-in-class risk management as the company accelerates its contribution to India's energy transition. The focus on process transformation and governance comes at a critical time as the renewable energy sector continues to scale rapidly across India.