ACME Solar shares rise after 250 MW PPA deal with NHPC

ACME Solar Holdings Ltd saw its shares rise by 2.23 per cent to reach a day high of Rs 251.80 during Friday's trading session. This uptick followed the company's announcement of a new Power Purchase Agreement (PPA) with NHPC Ltd.

The agreement entails a 25-year PPA for a 250 MW Firm and Dispatchable Renewable Energy (FDRE) project located in Rajasthan. The company has secured this agreement at a tariff of Rs 4.56 per kWh. The project is expected to ensure a minimum annual Capacity Utilization Factor (CUF) of 40 per cent and meet 90 40 per cent of the peak power requirement over four hours daily.

This development marks a significant step for ACME Solar in the renewable energy domain, reinforcing its commitment to India's clean energy goals. The project will utilise a blend of solar, wind and battery storage technologies, connected to an existing ISTS substation.

ACME Solar's portfolio, following this agreement, has now reached 5,130 MW of PPA-signed projects, out of which 2,826.2 MW is already operational.

Furthermore, the firm's operations are heavily tied to central government enterprises, comprising 86 per cent of its portfolio, with the remaining 14 per cent linked to state discoms.

ACME Solar holds a diversified portfolio amounting to 6,970 MW, spanning across solar, wind, FDRE, and hybrid energy solutions. This diversity positions the company advantageously within the renewable energy market as it continues to innovate and expand its capacity.

The collaboration with NHPC, a AAA-rated government enterprise, further solidifies ACME Solar's credibility and capability in handling large-scale renewable projects. The strategic partnership is expected to bolster the company's market presence and contribute to India's renewable energy targets.

Moving forward, ACME Solar is poised to continue its expansion with a firm pipeline of 1,840 MW, backed by Letters of Award (LOA).

As of March 2025, promoters held an 83.41 per cent stake in the renewable energy player.