ACME Solar Signs 300 MW Wind-Solar Hybrid PPA with SECI
ACME Solar Holdings Limited, through its subsidiary ACME Renewtech Fifth Private Limited, has secured a significant renewable energy contract by executing a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India Limited (SECI). The agreement covers a 300 MW Wind-Solar Hybrid project.The PPA outlines the terms for the hybrid power project, which is designated under Hybrid Tranche IX. ACME Renewtech Fifth Private Limited will supply power to SECI over a period of 25 years. Key project specifications include a tariff of Rs. 3.25 per unit.
The renewable energy project involves ISTS connectivity and is scheduled for a Scheduled Commencement of Supply Date (SCSD) set for June 30, 2028. The contracted capacity is linked to the company's existing secured connectivity in high-irradiation and wind zones. Furthermore, under the PPA, ACME Solar will adhere to a minimum annual capacity utilization factor (CUF) of 30%.
The project details are summarized below:
| Feature | Details |
|---|---|
| Contracting Entity | SECI (Solar Energy Corporation of India Limited) |
| Contract Capacity | 300 MW |
| Project Type | Wind-Solar Hybrid |
| Contract Tenure | 25 years from SCSD |
| Tariff | Rs. 3.25 per unit |
| Commencement Date | June 30, 2028 |
The successful signing of this agreement updates ACME Solar's project pipeline. The company currently holds a total contracted portfolio of 8,070 MW across various renewable energy solutions, and following the PPA, the signed portfolio now stands at 6,870 MW.
ACME Solar Holdings Limited operates as an integrated renewable energy player with a diversified portfolio spanning solar, wind, storage, FDRE, and hybrid solutions. The company has an operational contracted capacity of 2,990 MW, approximately 3.62 GWh of BESS capacity, and a currently under construction contracted capacity of 5,080 MW. ACME Solar maintains in-house EPC and O&M divisions to handle end-to-end development and operations for its plants, ensuring efficient project delivery.
ACMESOLAR Stock Price Movement
Acme Solar Holdings Limited shares slipped on Monday, shedding ₹8.75 or 2.27% from the previous close to settle at ₹377.55. The stock traded amidst significant selling pressure, with a volume totaling 1.38 million shares recorded for the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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