ACME Solar Signs 300 MW Wind-Solar Hybrid PPA with SECI, Expands PPA-Signed Portfolio to 6,870 MW

What Happened ?

key details

Business & Operational Updates:

• Executed a 25-year Power Purchase Agreement with SECI through wholly owned subsidiary ACME Renewtech Fifth Private Limited.
• The agreement covers a 300 MW ISTS-connected Wind-Solar Hybrid Renewable Energy Project under Hybrid Tranche IX.
• Power will be supplied at a fixed tariff of ₹3.25 per unit.
• The project is scheduled to commence power supply on 30 June 2028.
• ACME Solar will maintain a minimum annual Capacity Utilization Factor (CUF) of 30% under the PPA.
• The project will utilize the company’s already secured ISTS connectivity located in high solar irradiation and wind resource zones.
• Following the execution of the agreement, ACME Solar’s PPA-signed portfolio increased to 6,870 MW out of a total contracted portfolio of 8,070 MW.
• The company continues to maintain an integrated renewable energy portfolio spanning solar, wind, hybrid, FDRE, storage solutions, and approximately 3.62 GWh of Battery Energy Storage Systems (BESS).
• ACME Solar executes projects through its integrated Engineering, Procurement & Construction (EPC) and Operations & Maintenance (O&M) capabilities, supporting timely project delivery and operational efficiency.

Note:

• The announcement relates to the execution of a Power Purchase Agreement and does not disclose the project’s capital expenditure, investment value, expected annual revenue, or financial contribution. 

Risk Analysis

Summary:

• The signed PPA materially improves revenue visibility by securing long-term power offtake. However, project execution, timely commissioning and regulatory compliance remain critical to realizing the expected economic benefits.

Key Risks:

• Commercial revenue depends on achieving the Scheduled Commencement of Supply Date by 30 June 2028.
• Construction and commissioning delays could postpone revenue generation.
• Performance obligations include maintaining a minimum annual CUF of 30%.
• Renewable energy projects remain subject to execution, transmission infrastructure and regulatory risks.
• Financial benefits will accrue progressively over the 25-year project tenure after commissioning. 

Worst Case:

• Any delay in project execution, grid connectivity, or commissioning could defer commercial operations and postpone long-term revenue realization under the PPA.

Risk Level: Low

Company Commentary

• ACME Solar has executed a 25-year PPA with SECI for a 300 MW ISTS-connected Wind-Solar Hybrid Renewable Energy Project.
• The tariff has already been approved and adopted by the Central and State Regulators.
• The project will utilize ACME Solar’s secured ISTS connectivity in high-resource renewable energy zones.
• The agreement increases the company’s PPA-signed portfolio to 6,870 MW from its total contracted portfolio of 8,070 MW.
• ACME Solar continues to leverage its integrated EPC and O&M capabilities to deliver projects efficiently while maintaining strong operational performance.