ACME Solar Secures 25-Year SECI Deal For 300 MW FDRE Project
By Junaid Shah
ACME Solar Holdings has signed a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project integrated with 1,200 MWh of energy storage capacity.
The agreement has been executed through ACME Solar’s wholly owned subsidiary, ACME Renewtech Sixth. According to the company’s exchange filing, the project will be connected to the Inter-State Transmission System (ISTS) and is scheduled to commence power supply from May 28, 2028.
Under the terms of the agreement, the company will provide four hours of guaranteed peak power during non-solar hours. The project is also required to maintain a minimum annual availability of 85%.
The project configuration will utilise its existing night-time connectivity at high solar irradiation locations to optimise power delivery and operational efficiency.
Tariff Fixed At ₹6.28 Per Unit
The company signed the PPA at a tariff of ₹6.28 per unit for a contracted capacity of 300 MW. ACME Solar clarified that the final executed capacity is marginally lower than the 301 MW capacity mentioned in the earlier Letter of Award (LOA) due to project configuration optimisation mutually agreed between the parties.
The project was awarded under SECI’s FDRE Tranche-VII tender. ACME Solar had received the LOA on February 10, following the e-reverse auction conducted on February 2 under tariff-based competitive bidding guidelines.
PPA-Signed Portfolio Expands To 6,570 MW
Following the latest agreement, ACME Solar’s total contracted portfolio has increased to 8,070 MW, while its PPA-signed portfolio now stands at 6,570 MW.
The company currently operates 2,990 MW of contracted renewable energy capacity along with around 2.7 GWh of Battery Energy Storage System (BESS) capacity. In addition, ACME Solar is developing 5,080 MW of under-construction capacity, including nearly 18 GWh of BESS installations.
The company’s under-construction PPA-signed portfolio currently stands at 3,580 MW across solar, wind, hybrid, storage and FDRE segments.
This article has been republished from The Saur Energy International.