Solar Company signs PPA with NHPC Ltd for 250 MW FDRE project in Rajasthan
The company has a market cap of Rs 14,997 crore and the stock is up over 50 per cent from its 52-week low of Rs 167.55 per share.
ACME Solar Holdings Ltd (ACME Solar), a prominent Indian renewable energy company, has secured a significant 25-year Power Purchase Agreement (PPA) with NHPC Limited, a AAA-rated central government enterprise. This agreement is for ACME Solar's 250 MW Firm and Dispatchable Renewable Energy (FDRE) project located in Rajasthan. The PPA outlines a tariff of Rs 4.56 per kWh, with a minimum annual Capacity Utilization Factor (CUF) of 40 per cent and a commitment to meet 90% of the daily four-hour peak power requirement. This project, which integrates solar, wind, and battery storage technology, will connect to an existing ISTS substation. The tariff adoption received approval from the Hon'ble CERC on June 19, 2025.
This PPA is a major milestone for ACME Solar, reinforcing its presence in the FDRE sector and contributing to India's clean energy goals. With this new agreement, ACME Solar's signed PPA portfolio now stands at 5,130 MW, with 2,826.2 MW already operational and the remainder in various stages of implementation. The company also boasts a strong pipeline of an additional 1,840 MW for which Letters of Award (LOAs) have been received. Notably, 86% of ACME Solar's total portfolio is contracted with central government enterprises, with the remaining 14% with State discoms, highlighting the company's strong engagement with reliable off-takers.
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About the Company
ACME Solar Holdings is a leading integrated renewable energy player with a diversified portfolio of 6,970 MW spanning solar, wind, FDRE and hybrid solutions. With this milestone, the operational capacity of ACME Solar stands at 2,826.2 MW with another 4,143.8 MW in various stages of implementation. With an in-house EPC and O&M division, the company does end-to-end development and O&M of the plants, thereby delivering projects in a time & cost-effective manner while ensuring best-in-class operating performance evident in its industry-leading CUF and operating margins.
The company has a market cap of Rs 14,997 crore and the stock is up over 50 per cent from its 52-week low of Rs 167.55 per share.
Disclaimer: The article is for informational purposes only and not investment advice.