ACME Solar Holdings Ltd (ACME Solar) has signed a 25-year power purchase agreement (PPA) with state-owned NHPC Ltd for its 250 MW Firm and Dispatchable Renewable Energy (FDRE) project in Rajasthan.
The PPA has been signed at a tariff of INR 4.56 per kWh, ensuring a minimum annual capacity utilization factor (CUF) of 40% and meeting 90% of the peak power requirement for four hours daily.
ACME Solar will develop a renewable energy project coupled with energy storage, on a build-own-operate basis, for supply of 250 Firm and Dispatchable RE power.
“This PPA marks a significant step in strengthening ACME Solar’s footprint in the FDRE space while supporting India’s clean energy ambitions through an innovative mix of solar, wind, and battery storage technology,” stated Acme Solar.
The project will be connected to an interstate transmission system (ISTS) substation for which connectivity is already in place. The requisite approval under section 63 of the Electricity Act 2003 for adoption of tariff has been issued by CERC on 19.06.2025 in Petition number 87/AT/2025 filed by NHPC.
ACME Solar is an integrated renewable energy company with a diversified portfolio of 6,970 MW spanning solar, wind, FDRE, and hybrid solutions. With an in-house EPC and O&M division, the company does end-to-end development and O&M of the plants.
With the signing of PPA with NHPC, ACME Solar’s PPA-signed portfolio stands at 5,130 MW, including 2,826.2 MW already operational and balance under various stages of implementation. Additionally, the company has a firm pipeline of 1,840 MW for which Letter of Award (LOA) has been received. ACME Solar’s overall portfolio comprises 86% offtake with central government enterprises and the rest 14% with State discoms.
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Congrats to ACME on its NHPC tie-up, but Avaada Group is clearly the powerhouse . With 4 GW already operational and backed by recent refinancing of ₹4,471 Cr in Rajasthan, their financial strength and execution capabilities far outpace most in the sector.