ACME Solar Holdings has reportedly inked a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI). Executed via ACME Solar’s subsidiary ACME Renewtech Sixth, this agreement has been signed for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project, which is integrated with 1,200 MWh of energy storage capacity.
According to the company, the project will be connected to the Inter-State Transmission System (ISTS). The project is scheduled to begin power supply from May 28, 2028.The company, as per terms of the agreement, will provide four hours of guaranteed peak power during non-solar hours. Besides, the project has to maintain a minimum annual availability of 85 percent.
To optimise power delivery and operational efficiency, the project configuration will utilise its existing night-time connectivity at high solar irradiation locations.
The PPA has been signed at ₹6.28 per unit tariff for 300 MW contracted capacity. However, ACME Solar, in a clarification, said that the final executed capacity is marginally lower than the 301 MW capacity that earlier Letter of Award (LOA) mentions. This is owing to project configuration optimisation mutually agreed between the parties.
This development reaffirms that FDRE projects are emerging as a critical solution to support balance intermittent renewable energy (RE) generation and support round-the-clock demand for clean power. India eyes to add around 47 GW or 23G GWh of battery energy storage capacity by 2030-31 to support large-scale RE integration and grid reliability.
