ACME Subsidiary Locks 450 MW FDRE Power Supply to Be Delivered by 2028

ACME Solar has recently locked in a 450 MW renewable energy project comprising 300 MW and 150 MW FDRE power components. In a regulatory filing, ACME Solar stated that it secured the project at a tariff of Rs. 6.74 per unit.

Its subsidiary, ACME Greentech Seventh Private Limited, executed two Power Purchase Agreements (PPAs) comprising 300 MW and 150 MW with SJVN Limited, aggregating to a total capacity of 450 MW under a Firm and Dispatchable Renewable Energy (FDRE) power project. The ACME Solar project is scheduled to commence supply from March 3, 2028, for a period of 25 years.

ACME Solar Charts Path Toward 10 GW Operational Capacity by 2030

Rajat Kumar Singh, Chief Financial Officer (CFO), further explained that, as a measure of readiness, ACME Solar has about 7.5 gigawatts of secured and applied connectivity inventory available for upcoming bids, over and above its existing portfolio, which will come online in phases until FY’33. Additionally, the company will continue focusing on winning new projects that meet its threshold return criteria to progress toward its target of achieving 10 gigawatts of operational capacity by 2030.

Singh stated that, against this backdrop, for its planned FY’27 contracted capacity of 1.5 gigawatts, ACME has already procured 1.7 gigawatt-peak modules and a significant amount of BESS within the budgeted cost. This covers about 50% of the module requirement and the entire BESS requirement, and is not impacted by the planned VAT reduction in China.