ACME Solar Subsidiary Signs 400 MW PPA with NTPC for FDRE Project
ACME Solar's subsidiary, ACME Marigold Urja, signed a 400 MW PPA with NTPC for an FDRE project. The contract has a tariff of ₹4.37 per unit and a 25-year tenure starting from June 30, 2028. This is a significant new order for the company.
Securing a 400 MW PPA with NTPC, a major public sector undertaking, for a renewable energy project with a long tenure is a material event that is expected to have a significant positive impact on ACME Solar's future revenue and market position.
The announcement details the execution of a significant Power Purchase Agreement for a substantial capacity, which is a positive development for the company's business growth and revenue prospects.
ACME Solar Holdings Limited announced that its wholly-owned subsidiary, ACME Marigold Urja Private Limited, has executed a Power Purchase Agreement (PPA) with NTPC Limited. The agreement is for a Firm and Dispatchable Renewable Energy (FDRE) power project with a contract capacity of 400 MW, awarded under NTPC's FDRE Tranche 01.
The PPA specifies a tariff of ₹4.37 per unit for the power generated. The Scheduled Commencement of Supply Date (SCSD) is set for June 30, 2028, and the project will have a tenure of 25 years from the SCSD. This agreement signifies a significant step in ACME Solar's expansion in the renewable energy sector, particularly in providing dispatchable renewable energy solutions. The company has also confirmed that its promoter or promoter group does not have any interest in NTPC, and the contract does not fall under related party transactions.
This disclosure is made pursuant to Regulation 30 of the SEBI Listing Regulations. Further details regarding the PPA are available on the company's website.
What to do with a filing like this
Acme Solar Holdings Limited filed this with the NSE as a statutory disclosure, categorised under new orders. 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.