ACME Solar Holdings Limited has taken another significant step forward in India’s energy transition journey by formalising a major agreement with the Solar Energy Corporation of India Limited (SECI). Through its wholly owned subsidiary, ACME Platinum Urja Private Limited, the company has executed a long-term Power Purchase Agreement (PPA) for a 200 MW Solar with Energy Storage System (ESS) project. This development marks a crucial milestone in the company’s ongoing expansion of renewable energy assets and further strengthens its long-term project pipeline.

The announcement came through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, where the company informed both BSE Limited and the National Stock Exchange of India Limited about the execution of the PPA. The agreement represents not only the culmination of SECI’s earlier award of capacity to ACME Solar but also an addition to the company’s steadily growing portfolio of operational and contracted renewable power projects.

This new PPA, signed on 24 November 2025, follows SECI’s tariff adoption by the Central Electricity Regulatory Commission (CERC) and the required approvals by the relevant State Electricity Regulatory Commission. These approvals are essential steps in the formalisation of renewable energy projects, ensuring compliance with regulatory standards and aligning project execution with established national frameworks.

The project is a part of the broader allocation of 350 MW awarded to ACME Solar by SECI in July 2024. Prior to this, the company had already signed a PPA for 150 MW in October 2024. With the latest 200 MW agreement, the complete awarded capacity has now been brought under binding contractual agreement. This marks the full realisation of SECI’s award and paves the way for further progress in the implementation of the project.

The PPA outlines that the energy supplied from the project will be drawn from a combination of solar input and battery storage capability. The system includes 100 MW/400 MWh of ESS, ensuring sustained energy delivery even during non-solar generating hours. By integrating storage, the project is designed to improve grid stability and help meet energy demands during high-consumption periods.

Under the terms of the agreement, ACME Solar is required to meet specific Capacity Utilisation Factor (CUF) metrics, delivering between 25% and 27% during solar generating hours. Additionally, the company must ensure minimum energy availability of 70% on a monthly basis and 85% annually during designated peak-hour windows. These requirements underscore the increasing emphasis on performance benchmarks in renewable energy projects, aligning energy delivery obligations with evolving grid management needs.

The PPA carries a project tenure of 25 years, offering long-term revenue visibility and strengthening the company’s long-standing relationship with SECI, India’s premier renewable energy implementing agency under the Ministry of New and Renewable Energy. The Scheduled Commercial Operation Date (SCOD) has been set for 30 June 2027, giving the company a clear execution timeline while leveraging the advantage of having secured final connectivity approvals for the project.

The tariff for the project has been fixed at Rs 3.42 per unit, a competitive rate that reflects the decreasing cost trajectory of solar and storage technologies in India. Over the past decade, advancements in photovoltaic efficiency, manufacturing scale, storage capacity, and project development methodologies have enabled developers to offer more competitive pricing while meeting stringent operational requirements.

With this latest signing, ACME Solar’s cumulative contracted capacity under PPAs for the current financial year has reached 800 MW. This includes substantial Battery Energy Storage System (BESS) components amounting to 2,320 MWh, highlighting the company’s growing focus on integrated renewable energy solutions. The addition of advanced energy storage systems is becoming increasingly important as India transitions toward a higher share of intermittent renewable energy sources in its energy mix.

Overall, the signing brings ACME Solar’s aggregated PPA-signed portfolio to 5,380 MW, further cementing its position as one of India’s leading renewable energy companies. The company’s strategic focus on solar, wind, hybrid, and fully dispatchable renewable energy (FDRE) projects places it in a strong position to contribute meaningfully to India’s ambitious renewable energy targets for 2030 and beyond.

ACME Solar has built a strong reputation for delivering renewable energy projects with exceptional operating performance. The company emphasises end-to-end project development through its integrated Engineering, Procurement, and Construction (EPC) capabilities and a robust Operations & Maintenance (O&M) ecosystem. By handling both development and long-term maintenance internally, ACME Solar ensures better control over project timelines, operational efficiency, and optimisation of lifecycle costs.

The company’s operational contracted capacity currently stands at 2,934 MW, with an additional 4,456 MW under construction. This includes 13.5 GWh of BESS installation, reflecting one of the largest portfolios of storage-enabled renewable projects in India. Such a strong pipeline underscores the company’s commitment to enhancing energy reliability and grid stability through storage-backed renewable power.

The addition of this 200 MW solar with ESS project aligns well with India’s growing need to balance peak-hour demand with sustainable, emission-free solutions. Solar energy generation peaks during the day, while demand in many regions rises sharply in the evening. The inclusion of battery storage mitigates this mismatch by enabling developers to store surplus energy generated during solar hours and discharge it during peak hours. This enhances the overall economic value of renewable energy and improves the dependability of supply.

The project’s successful execution will contribute significantly to India’s climate commitments and its efforts to reduce dependence on fossil fuels. With storage becoming a key component of new renewable projects, India continues to advance toward its long-term climate goals and its target of installing 500 GW of non-fossil fuel-based energy capacity by 2030.

Beyond national priorities, the project also holds strategic importance for ACME Solar. It enhances the company’s competitive standing in the renewable energy sector, particularly in the rapidly expanding ESS-based project segment. The sector is poised for accelerated growth as grid operators increasingly require firm, dispatchable renewable power to ensure round-the-clock supply stability.

Furthermore, the partnership with SECI underscores the trust and confidence placed by government authorities in ACME Solar’s project delivery expertise. Long-term agreements such as this one contribute to predictable cash flows and strengthen the company’s financial profile.

ACME Solar’s leadership continues to reiterate its commitment to investing in advanced solar and storage technologies, optimising project execution strategies, and expanding its clean energy footprint across the country. Through this PPA signing and its broader project pipeline, the company is aligning its future with India’s vision of a sustainable, secure, and efficient energy ecosystem.

The company also released a press statement highlighting the significance of the new PPA and reaffirming its dedication to innovative renewable energy solutions. The statement emphasised the company’s role in supporting the country’s clean energy transition through state-of-the-art solar and storage projects capable of delivering reliable power to consumers.

As India continues its rapid expansion of renewable energy capacity, the solar and storage domains are expected to play a transformative role in shaping the future energy landscape. Projects like ACME Solar’s 200 MW solar with ESS installation represent the future of renewable energy development—flexible, efficient, storage-backed, and performance-driven.

Through sustained investments, technological advancements, and an unwavering commitment to quality, ACME Solar is contributing to an energy-secure future for the country. With a diverse and growing portfolio, strengthened by the latest PPA signing with SECI, the company is well-positioned to shape the next phase of India’s clean energy evolution

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