ACME Solar Secures SECI PPA for 190 MW Wind Solar Hybrid Project Under ISTS Framework

ACME Solar Holdings, through its subsidiary ACME Urja One Private Limited, has entered into a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 190 MW wind solar hybrid project. The agreement increases the company’s total PPA-signed capacity to 5,820 MW.

The project is an Inter-State Transmission System (ISTS) connected hybrid installation, which forms part of a broader 380 MW tranche. With this agreement, the first half of the capacity has now secured long-term offtake.

The tariff for the project has been adopted by the Central Electricity Regulatory Commission (CERC), while the power procurement framework has also received approval from the relevant State electricity regulatory authority.

Assured Peak Supply

The hybrid project is structured to deliver assured peak power, supported by a minimum annual Capacity Utilisation Factor (CUF) of 50 percent. It also carries a contractual requirement to meet 80 percent of peak demand on a daily basis.

As per ACME Solar, grid connectivity has been secured for all project components, including solar, wind and Battery Energy Storage System (BESS) infrastructure. Connectivity and transmission timelines are aligned with the contracted commercial operations schedule.

Timeline and Project Scope

The 190 MW hybrid project is part of Tranche-VI capacity, where 380 MW was tendered, and half has now secured long-term PPA backing. The project is scheduled to achieve commercial operations by 27 February 2028, with the agreement running for 25 years from the PPA execution date.

Financing Backed by PFC

Project financing is being supported by Power Finance Corporation Ltd (PFC) under Phase II of an already sanctioned funding package. SECI, the counterparty to the agreement, holds an AAA credit rating as a Central government enterprise, strengthening bankability for the project.

1,240 MW PPA in Current Financial Year

With this agreement, ACME Solar has signed PPAs for approximately 1,240 MW in the current financial year. The latest deal pushes its total contracted portfolio to 5,820 MW.

The Gurugram-based developer currently reports a total portfolio of 8,071 MW across solar, wind, storage and hybrid assets. Of this, 2,966 MW is operational, while 5,105 MW is under construction. The pipeline includes roughly 17 GWh of battery energy storage capacity.