ACME Solar signs 400 MW PPA with NTPC for FDRE Project at ₹4.37/unit
ACME Solar signed a 400 MW PPA with NTPC for an FDRE project at ₹4.37/unit. The project is ISTS-connected and will integrate energy storage. ACME Solar's PPA-locked contracted portfolio now stands at 4,710 MW.
Securing a 400 MW PPA with NTPC is a material development that significantly adds to the company's contracted capacity and revenue streams, impacting its future business outlook.
The announcement details a significant new PPA with a major entity (NTPC) for a substantial capacity, which is positive for the company's future revenue and project pipeline.
ACME Solar Holdings Limited (ACME Solar), through its subsidiary ACME Marigold Urja Private Limited, has signed a Power Purchase Agreement (PPA) with NTPC Limited for a 400 MW Inter-State Transmission System (ISTS)-connected Firm and Dispatchable Renewable Energy (FDRE) project. The project, part of NTPC's FDRE-01 tranche, will operate at a tariff of ₹4.37 per unit, as adopted by the Central Electricity Regulatory Commission (CERC). The project will be connected to the ISTS network via the Raghaneswa substation, for which connectivity has been secured. ACME Solar has acquired over 800 acres of land and is on track for commissioning as per the PPA timelines.
This FDRE project aims to integrate renewable energy generation with energy storage solutions, providing reliable and dispatchable power. It will meet the offtaker's power requirements during peak demand hours, ensuring a minimum annual Capacity Utilisation Factor (CUF) of 40%. The project has an obligation to meet 90% of peak power demand for a cumulative duration of 4.5 hours daily across morning and evening peak periods.
With this PPA, ACME Solar's under-construction, PPA-locked contracted portfolio now stands at 4,710 MW, out of a total under-construction contracted capacity of 5,380 MW.
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Acme Solar Holdings Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Acme Solar Holdings Limited. Read the original for the full detail.