New Delhi: ACME Solar Holdings Limited on Thursday informed stock exchanges that its wholly owned subsidiary, ACME Urja One Private Limited, has executed a Power Purchase Agreement (PPA) with SECI Limited for setting up a 190 MW ISTS-connected wind-solar hybrid project with assured peak power supply.
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In its regulatory filing under Regulation 30 of the SEBI Listing Regulations, the company said ACME Urja One “has signed a Power Purchase Agreement (“PPA”) for 190 MW ISTS connected wind solar hybrid Power project with assured Peak Power supply, with SECI Limited (“SECI”). ACME will supply Hybrid Power with assured peak power supply during Peak Hours.”
The project includes a Battery Energy Storage System (BESS) to support assured peak supply.
The size of the project is 190 MW, structured as an ISTS-connected wind-solar hybrid project with BESS, “at a tariff of Rs 4.72 per unit.” The scheduled commercial operation date (SCOD) is February 27, 2028. The project tenure is 25 years from the date of signing of the PPA.
According to a statement, the PPA was signed on February 18, and forms part of a 380 MW capacity, of which PPA for the first 190 MW has been executed.
The company stated that the PPA requires supplying power with a minimum annual Capacity Utilisation Factor (CUF) of 50 percent and meeting “80 percent of peak power requirement on a daily basis.”
It added that connectivity for solar, wind and BESS components has been secured, and that the tariff “has been adopted by Hon’ble Central Electricity Regulatory Commission (“CERC”) and power procurement plan has been approved by appropriate State Electricity Regulatory Commission.”
The project has already been financed by Power Finance Corporation Ltd as part of an existing sanctioned project under Phase II, and connectivity and transmission timelines are within the COD timeline as per the PPA.
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Following the execution of this PPA, ACME Solar’s total PPA-signed portfolio stands at 5,820 MW, with 1,240 MW of PPAs signed in the current financial year, the company said.