ACME Solar Unit Signs 25-Year PPA with SECI for 300 MW Hybrid Project

GURUGRAM, India — Renewable energy producer ACME Solar Holdings Limited, through its wholly owned subsidiary ACME Renewtech Fifth Private Limited, has finalized a 25-year Power Purchase Agreement (PPA) with state-run Solar Energy Corporation of India Limited (SECI). The deal governs a 300 megawatt (MW) Inter-State Transmission System (ISTS)-connected wind-solar hybrid project awarded at a competitive tariff of ₹3.25 per kilowatt-hour (kWh).

The development marks a significant step in expanding India’s dispatchable green energy infrastructure. Under the regulatory frameworks governed by the Ministry of New and Renewable Energy (MNRE), national trading utilities like SECI act as intermediaries to pool renewable capacity and supply cost-effective clean power to state distribution companies (DISCOMs).

Technical Details and Infrastructure Framework

The 300 MW wind-solar hybrid project combines photovoltaic generation and wind turbines to ensure balanced power generation across varying climatic conditions. By integrating both technologies, hybrid facilities achieve higher Capacity Utilization Factors (CUFs) compared to standalone solar or wind installations.

The power plant will be connected directly to the Inter-State Transmission System (ISTS) network. This setup allows the generated electricity to be transmitted across state borders without incurring regional transmission bottlenecks, helping stabilize grid frequency while delivering green power to electricity-deficient distribution regions.

Market Context and Corporate Impact

According to official regulatory filings with the National Stock Exchange of India (NSE) and BSE Limited, the contract reinforces ACME Solar's growing operational footprint in utility-scale renewable development. The addition of this 300 MW capacity expands the company's total PPA-signed portfolio, positioning it as a major contributor to India's target of achieving 500 gigawatts (GW) of non-fossil energy capacity by 2030.

The fixed tariff of ₹3.25 per unit over 25 years provides long-term revenue visibility for ACME Solar while offering SECI and purchasing DISCOMs protection against volatile spot power prices on electricity exchanges.

Official Statements and Declarations

In official regulatory communications, company executives highlighted the execution of the PPA as part of their strategy to scale up hybrid and firm renewable assets.

"According to corporate disclosures submitted to stock exchanges, the subsidiary ACME Renewtech Fifth Private Limited has formally executed the 25-year agreement following competitive bidding guidelines, solidifying the project's pathway toward operational commissioning."

Why It Matters

• For Power Consumers & Citizens: Hybrid projects generate smoother, less intermittent power throughout the day and night, improving overall grid reliability and reducing reliance on fossil-fuel power plants.

• For State DISCOMs: Securing long-term clean energy at ₹3.25 per unit allows distribution utilities to meet their Renewable Purchase Obligations (RPO) economically.

• For Investors & Industry: The agreement demonstrates ongoing institutional confidence in India's tariff-based competitive bidding (TBCB) framework and long-term renewable PPAs.

Key Facts at a Glance

• Project Developer: ACME Renewtech Fifth Private Limited (Subsidiary of ACME Solar Holdings Limited).

• Offtaker / Counterparty: Solar Energy Corporation of India Limited (SECI).

• Capacity & Type: 300 MW Wind-Solar Hybrid Project.

• Contracted Tariff: ₹3.25 per unit (kWh).

• Agreement Tenure: 25 Years.

• Grid Connection: Inter-State Transmission System (ISTS).

Frequently Asked Questions (FAQ)

What is a wind-solar hybrid power project?

A wind-solar hybrid power project combines solar panels and wind turbines within a single power generation ecosystem. This setup optimizes land usage, shares transmission infrastructure, and balances power production, as solar energy peaks during daylight while wind energy often peaks in the evening or night.

What is the role of SECI in this power agreement?

The Solar Energy Corporation of India (SECI) is a Central Public Sector Undertaking under the Ministry of New and Renewable Energy. SECI conducts competitive tenders, signs PPAs with power developers, and enters into Back-to-Back Power Sale Agreements (PSAs) with state distribution companies to trade clean energy.

How does the ₹3.25/unit tariff benefit utilities?

A tariff of ₹3.25 per unit offers a predictable, fixed power procurement cost for 25 years. This helps distribution companies lower their overall power purchase costs compared to expensive thermal power peaking plants or volatile spot market prices.

Source: Official regulatory disclosures filed by ACME Solar Holdings Limited with the National Stock Exchange of India (NSE) and BSE Limited, and project allocation guidelines issued by the Solar Energy Corporation of India (SECI).