ACME Solar Signs Dual PPAs with SECI
Subsidiaries of ACME Solar have executed two 25-year Power Purchase Agreements (PPAs) with the Solar Energy Corporation of India (SECI), acting as the Intermediary Procurer. These agreements formalize the delivery of renewable energy from projects totaling 490 MW and involve a standard trading margin of 7 paise/kWh charged by SECI.
Project Breakdowns and Tariffs
The projects are structured under SECI’s power trading mechanism with fixed financial terms and specific operational requirements.
300 MW Firm and Dispatchable Renewable Energy (FDRE) Project
- Subsidiary: ACME Renewtech Sixth
- Fixed Tariff: ₹6.28/kWh
- Technical and Performance Requirements:
- 1,200 MWh storage capacity.
- 4-hour assured peak power supply provided on a demand-following basis.
- Minimum annual availability of 85%.
- Demand Fulfilment Ratio (DFR): A minimum monthly DFR of 75%-80% is required.
- Shortfall Penalty: Shortfalls in meeting performance criteria are subject to a penalty of 1.5 times the PPA tariff.
190 MW Wind-Solar Hybrid Project
- Subsidiary: ACME Urja One
- Fixed Tariff: ₹4.72/kWh
- Technical Requirements:
- Integration of a Battery Energy Storage System (BESS) to meet the 80% daily peak power requirement.
- 50% minimum annual Capacity Utilisation Factor (CUF).
Timeline and Grid Connectivity
The 190 MW hybrid project has a Scheduled Commercial Operation date of February 2028, followed by the 300 MW FDRE project in May 2028. Both projects will connect to the Inter-State Transmission System (ISTS) in accordance with national grid standards.
Portfolio Milestones
The execution of these agreements brings the company’s portfolio to the following metrics:
- Cumulative PPA-signed portfolio: 6,570 MW
- Total contracted portfolio: 8,070 MW
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