
According to reports from Business Standard, ACME Solar Holdings has signed a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI), a AAA-rated Central Government enterprise. The agreement covers 300 MW / 1,200 MWh ISTS-connected assured peak power capacity, with ACME Solar supplying 4 hours of assured peak power only during non-solar hours with a minimum annual availability requirement of 85%. The project will be connected to ISTS substations and utilize ACME Solar's existing night-time connectivity available at high irradiation zones. As per the latest reports, the contract specifies a tariff of ₹6.28 per unit for the power supplied. This latest win represents ACME Solar's strategic shift toward integrated solar-plus-storage solutions, moving beyond pure-play solar to provide firm and dispatchable renewable energy that is more valuable to the grid than intermittent solar energy.
As reported by Business Standard, the project was awarded to ACME Solar under SECI's FDRE Tranche-VII tender, pursuant to the Letter of Award (LOA) dated February 10, 2026. The tender was issued under Tariff-Based Competitive Bidding (TBCB) guidelines, with the e-reverse auction conducted on February 02, 2026. This FDRE project represents ACME Solar's continued expansion in the assured peak power segment, with the agreement executed through its subsidiary ACME Renewtech Sixth Private Limited. The 1,200 MWh battery storage component allows the 300 MW project to provide 4 hours of steady power even when the sun isn't shining, making the power firm and dispatchable - a significant upgrade from traditional intermittent solar energy. The project will be supplied from May 28, 2028, with the agreement slightly adjusting contracted capacity from the earlier 301 MW to optimize project configuration, and it has been awarded by a domestic entity with no related-party involvement.
According to Business Standard, with this latest agreement, ACME Solar's PPA-signed portfolio now stands at 6,570 MW out of its total contracted portfolio of 8,070 MW. This significant milestone demonstrates the company's substantial progress in securing long-term power purchase commitments from government entities, positioning it well for sustained growth in the renewable energy sector. The 25-year contract period significantly reduces merchant power risk and provides predictable cash flows for debt servicing, with the ISTS connectivity allowing power transmission across state boundaries - eliminating dependency on local state utility financial health. As reported, this development marks another step in ACME Solar's extensive renewable energy portfolio, which spans solar, wind, storage, and hybrid solutions, with the company's latest 300 MW win being about 'quality' of capacity rather than just capacity alone. This long-tenure PPA underscores growing demand for assured peak renewable power and supports ACME Solar's role as a key player in grid-connected, dispatchable green energy solutions in India.
In the past 90 days, ACME Solar has aggressively pursued portfolio optimization through strategic initiatives. In March 2026, the company successfully refinanced ₹1,500 crore of high-cost debt with lower-interest green bonds, reducing its financing costs. Additionally, in April 2026, it announced a partnership with a global technology firm to enhance its energy management systems for battery assets. The move into large-scale battery storage positions ACME Solar ahead of traditional renewable peers who are still primarily focused on plain-vanilla solar, with the 1,200 MWh storage indicating technological leadership in the integrated solar-plus-storage space. This strategic shift toward Battery Energy Storage Systems (BESS) provides higher grid stability and premium pricing potential, with the multi-decade PPA ensuring high-quality, annuity-like cash flows that institutional investors prioritize.