ACME Solar Signs 190 MW Power Purchase Agreement with SECI
Filing Summary
ACME Solar Holdings Ltd, through its subsidiary ACME Urja One Private Limited, has executed a Power Purchase Agreement (PPA) with SECI Limited for a 190 MW hybrid power project. The agreement includes a tariff of Rs. 4.72 per unit and a 25-year project tenure. The project involves wind-solar hybrid power with a Battery Energy Storage System to ensure peak power supply. The scheduled commercial operation date is February 27, 2028. This agreement increases ACME Solar’s total PPA-signed portfolio to 5,820 MW, with 1,240 MW signed in the current financial year.
ACME Solar Holdings Ltd, through its wholly owned subsidiary ACME Urja One Private Limited, has executed a Power Purchase Agreement (PPA) with SECI Limited. The agreement pertains to a 190 MW hybrid power project, which includes wind and solar components. The project is designed to provide assured peak power supply and is part of a larger 380 MW capacity initiative.
The financial terms of the agreement specify a tariff of Rs. 4.72 per unit for the power supplied. The project tenure is set for 25 years from the date of signing the PPA. The agreement includes the installation of a Battery Energy Storage System to ensure peak power supply during designated hours. The project is financed by Power Finance Corporation Ltd as part of an existing sanctioned project under Phase II.
The scope of the project involves the development of a 190 MW ISTS-connected wind-solar hybrid power project. The project is required to maintain a minimum annual Capacity Utilisation Factor (CUF) of 50% and meet 80% of peak power requirements on a daily basis. Connectivity for all components, including solar, wind, and the Battery Energy Storage System, has been secured. The power procurement plan has been approved by the appropriate State Electricity Regulatory Commission.
The scheduled commercial operation date for the project is February 27, 2028. The completion timelines for connectivity and the transmission system are aligned with the commercial operation date as per the PPA. This agreement contributes to ACME Solar’s total PPA-signed portfolio, which now stands at 5,820 MW, with 1,240 MW of PPAs signed in the current financial year.
SECI Limited is a central government enterprise with a AAA rating. It plays a significant role in the renewable energy sector by facilitating the development and procurement of renewable energy projects across India. SECI’s involvement in this project underscores its commitment to expanding the country’s renewable energy capacity.
ACME Solar Holdings Ltd is a leading integrated renewable energy company with a diversified portfolio of 8,071 MW, including solar, wind, storage, and hybrid solutions. The company has an operational contracted capacity of 2,966 MW and an under-construction contracted capacity of 5,105 MW. ACME Solar focuses on end-to-end development and operation of renewable energy projects, leveraging its in-house EPC and O&M divisions to deliver projects efficiently.