ACME Solar Holdings Limited has made a regulatory disclosure pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, regarding the execution of a Power Purchase Agreement (PPA).
Contract Details
- Contract Capacity: 300 MW under Firm and Dispatchable Renewable Energy (FDRE) Tranche VII - Assured Peak Power Project
- Project Type: ISTS-connected assured peak power capacity (300 MW / 1,200 MWh)
- Counterparty: Solar Energy Corporation of India Limited (SECI), described as a AAA-rated Central Government enterprise
- Agreement Tenure: 25 years from the Scheduled Commencement of Supply Date
- Scheduled Commencement of Supply Date (SCSD): May 28, 2028
- Tariff: ₹6.28 per unit
Project Specifications
The FDRE project will be connected to ISTS substations and will utilize ACME Solar's existing night-time connectivity available at high irradiation zones. Under the PPA, ACME Solar will supply 4 hours of assured peak power only during non-solar hours with a minimum annual availability requirement of 85%.
Background and Award Process
The project was awarded to ACME Solar under SECI's FDRE Tranche-VII tender, pursuant to a Letter of Award (LOA) dated February 10, 2026. The tender was issued under Tariff-Based Competitive Bidding (TBCB) guidelines, with the e-reverse auction conducted on February 2, 2026.
Capacity Adjustment Note
The executed PPA has been entered into for a contracted capacity of 300 MW, as against the 301 MW capacity referred to in the LOA. This adjustment was mutually agreed between the parties for optimization of project configuration and implementation.
Portfolio Impact
With this agreement, ACME Solar's total contracted portfolio stands at 8,070 MW, with the PPA-signed portfolio now at 6,570 MW.
Corporate Structure and Business Context
The disclosure clarifies that this is not a related party transaction and that the promoter/promoter group/group companies have no interest in SECI. The company describes itself as a leading integrated renewable energy player with a diversified portfolio spanning solar, wind, storage, FDRE and hybrid solutions, with an operational contracted capacity of 2,990 MW and approximately 2.7 GWh of BESS Capacity, and under construction capacity of 5,080 MW including approximately 18 GWh of BESS installation.