ACME Solar Holdings Limited (NSE:ACMESOLAR) announced on 21 July 2026 that its wholly owned subsidiary, ACME Renewtech Fifth Private Limited, has executed a Power Purchase Agreement with Solar Energy Corporation of India Limited for a 300 megawatt wind-solar hybrid renewable energy project under Hybrid Tranche IX. The contract carries a tariff of Rs 3.25 per unit and a 25-year tenure.
Key Highlights
- ACME Renewtech Fifth Private Limited, a wholly owned subsidiary of ACME Solar, signed the PPA with SECI for 300 MW hybrid capacity under Hybrid Tranche IX.
- Scheduled Commencement of Supply Date is 30 June 2028, with a 25-year project tenure from that date.
- The tariff is fixed at Rs 3.25 per unit, already approved and adopted by Central and State regulators.
- The hybrid renewable energy project will be ISTS-connected and utilize the company's already-secured connectivity at high-irradiation and wind zones.
- ACME Solar will supply power at a minimum annual Capacity Utilisation Factor of 30 percent under the PPA terms.
- Including this 300 MW project, ACME Solar's PPA-signed contracted portfolio stands at 6,870 MW of its total portfolio of 8,070 MW.
About the Company
ACME Solar Holdings Limited, listed on the NSE with ticker ACMESOLAR and on the BSE with scrip code 544283, is an integrated renewable energy player headquartered in Gurugram, Haryana. The company has built a diversified portfolio of 8,070 megawatts spanning solar, wind, and storage technologies. ACME Solar develops, owns, and operates utility-scale renewable energy projects across India, serving government entities, discoms, and large commercial customers. The company operates through multiple wholly owned subsidiaries and has secured interconnectivity at key high-solar-irradiation and wind-resource zones across the country.
Announcement in Detail
ACME Renewtech Fifth Private Limited, the wholly owned subsidiary of ACME Solar Holdings Limited, has executed a Power Purchase Agreement with Solar Energy Corporation of India Limited under Hybrid Tranche IX. The PPA is for a wind-solar hybrid renewable energy project with a contracted capacity of 300 megawatts. The project carries a pre-approved tariff of Rs 3.25 per unit, adopted by both Central and State regulators.
Under the PPA framework, ACME Solar will supply power to SECI at a minimum annual Capacity Utilisation Factor of 30 percent. The project will be connected to ISTS (Inter-State Transmission System) substations and will leverage the company's already-secured connectivity points located in high-irradiation and wind zones. The Scheduled Commencement of Supply Date is fixed at 30 June 2028, with a 25-year tenure commencing from that date.
The 300 MW contract adds to ACME Solar's existing PPA-signed portfolio. As disclosed in the filing, the company now holds PPA-signed contracted capacity of 6,870 megawatts out of its total portfolio of 8,070 megawatts. This indicates that 1,200 megawatts of the portfolio remains either in tender process, under development, or awaiting PPA execution.
Impact on Investors
Investors will note that the execution of this 300 MW PPA with SECI represents a significant long-term revenue commitment spanning 25 years from the scheduled supply date of 30 June 2028. The PPA is with a sovereign entity, SECI, which is a central government undertaking, thereby reducing counterparty credit risk. The pre-approved tariff of Rs 3.25 per unit provides revenue certainty and eliminates tariff discovery risk. The filing shows that ACME Solar has 6,870 megawatts now under PPA cover, demonstrating substantial progress in converting its development portfolio into contracted cash-generating assets.
The disclosed terms indicate that ACME Solar must meet a minimum 30 percent annual Capacity Utilisation Factor. Investors should note that achieving this target depends on resource availability, grid offtake patterns, and operational performance at the hybrid facility. The 2028 commencement date means that this project will not generate revenue in the current fiscal year and represents medium-term value creation. The filing does not disclose estimated capital expenditure, project location specifics, or the breakdown between wind and solar components, which investors may wish to monitor through future quarterly disclosures or investor presentations.
Sector / Market Context
India's renewable energy sector has seen accelerated capacity additions in recent years. According to the Ministry of New and Renewable Energy, India's total renewable capacity exceeded 200 gigawatts by end of FY26, with solar and wind contributing the majority. The hybrid renewable energy model, combining solar and wind resources, has gained traction as it improves capacity factors and grid stability compared to single-source facilities. SECI's Hybrid Tranches are central to India's renewable expansion strategy and typically attract competitive bidding from large integrated players.
The executed PPA reflects India's ambition to reach 500 gigawatts of renewable capacity by 2030. ISTS-connected hybrid projects contribute to national energy security and enable inter-state power transfer. The tariff level of Rs 3.25 per unit reflects market conditions in the hybrid renewable segment and regulatory approval frameworks. For ACME Solar, this PPA marks continued execution within its stated growth strategy of converting portfolio assets into long-term, regulated revenue streams.