Shares of ACME Solar Holdings Ltd settled at ₹303 per share on the NSE, closing nearly 1 percent higher on Tuesday following the announcement of the power purchase agreement. According to reports from PTI, the stock's positive performance reflects investor confidence in the company's expanding renewable energy portfolio.
The company's subsidiary, ACME Renewtech Sixth Pvt Ltd, has signed a 25-year power purchase agreement with state-owned Solar Energy Corporation of India (SECI) for 300 MW/1,200 MWh of ISTS-connected assured peak power capacity. As reported by PTI, the FDRE project will be connected to ISTS substations and will utilize the company's existing night-time connectivity at high irradiation zones. The agreement secures a tariff of ₹6.28 per unit for the project tenure, with the Scheduled Commencement of Supply Date (SCSD) set for May 28, 2028.
Under the agreement, ACME Solar will supply four hours of assured peak power during non-solar hours, with a minimum annual availability requirement of 85 percent. According to the company statement, the project was awarded under SECI's FDRE Tranche-VII tender following the Letter of Award dated February 10, 2026. The tender was issued under tariff-based competitive bidding guidelines, while the e-reverse auction was conducted on February 2. Notably, the executed PPA covers a contracted capacity of 300 MW, representing a reduction from the 301 MW capacity initially referenced in the Letter of Award, which was mutually agreed upon for optimizing project configuration and implementation.
Following the signing of the agreement, ACME Solar's PPA-signed portfolio has risen to 6,570 MW out of its total contracted portfolio of 8,070 MW. As reported by PTI, the company operates in the renewable energy sector with a portfolio spanning solar, wind, storage, FDRE and hybrid solutions. The company's current operational capacity stands at 2,990 MW, with under-construction capacity of 5,080 MW and under-construction BESS capacity of ~18 GWh. Additionally, the company has under-construction PPA-signed portfolio of 3,580 MW, demonstrating its continued growth in the renewable energy sector. This latest contract marks a significant milestone in ACME Solar's journey, augmenting its extensive renewable energy portfolio and contributing towards India's sustainable energy goals.
