New Delhi: ACME Sikar Solar Private Limited, a wholly-owned subsidiary of ACME Solar Holdings Limited, has signed a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a 300 MW solar power project in Rajasthan. The agreement was executed at a fixed tariff of Rs 3.05 per unit.
The signing follows the successful commissioning of the 300 MW capacity on June 23. The project was awarded under SECI’s ISTS XVIII tranche and had its tariff formally adopted by the Central Electricity Regulatory Commission (CERC) on May 30.
According to the company’s official statement issued on Wednesday, “As per the agreement, the project requires to supply power on or before June 30, 2025. The project also qualifies for Inter-State Transmission System (ISTS) charges waiver, as the Scheduled Commercial Operations Date (SCOD) falls before June 2025 deadline, aligning with the government incentives aimed at early operationalisation of renewable energy projects.”
With the latest milestone, ACME Solar’s total PPA-tied portfolio has reached 5,130 MW, of which 2,890 MW is currently operational, said the company. The remaining capacity is in various stages of implementation. In addition, the company holds Letters of Award (LoAs) for another 1,840 MW, it added.
ACME Solar’s portfolio comprises 86 percent offtake through Central government entities, with the remaining 14 percent contracted with state distribution companies.
Describing the company’s broader footprint, the statement added, “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.”
The company develops and maintains its projects through an in-house engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) division, and claims industry-leading capacity utilisation and operating margins.