ACME Solar’s subsidiary, ACME Platinum Urja, has entered into a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 200MW solar project integrated with a 100MW energy storage system.
This solar PPA with battery storage was finalised at a tariff of Rs3.42 ($0.03) per unit, following approvals from the Central and State Regulators.
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The agreement is part of a letter of award (LoA) issued by SECI to ACME Solar in July 2024 for a total capacity of 350MW.
Of this capacity, a PPA for 150MW had already been signed in October 2024.
With the latest agreement, the entire project capacity is now covered under the PPA.
Under the terms of the project, ACME Solar is required to supply power with an annual capacity utilisation factor of 25% to 27% during solar hours.
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By GlobalDataAdditionally, the company must ensure a minimum availability of 70% each month and 85% annually during evening peak hours.
The solar and battery storage project is set for commissioning by June 2027.
ACME Solar will benefit from the final grant of connectivity already available for this project.
The company said it has cumulatively signed PPAs for 800MW of contracted capacity, including 2,320MWh of battery energy storage system capacity in the current fiscal year.
This brings ACME Solar’s total signed PPA capacity to 5,380MW.
ACME Solar is an integrated renewable energy company with a portfolio covering solar, wind, storage, flexible dispatchable renewable energy, and hybrid solutions.
