ACME Solar signs power purchase agreement with NHPC

New Delhi New Delhi: Renewable energy firm ACME Solar Holdings has signed a power purchase agreement (PPA) with state-owned NHPC for a 680 MW capacity project. According to a company statement on Tuesday, ACME Solar has been awarded the project under a 1,400 MW firm and dispatchable renewable energy (FDRE) tender issued by NHPC. The project will be developed across multiple locations, including Gujarat, Madhya Pradesh, Karnataka and Rajasthan, the statement said. This innovative project combines advanced technology with hybrid renewable energy solutions to enhance efficiency and sustainability. According to the company, the power purchase agreement with NHPC reinforces its commitment to India’s clean energy goals by integrating solar, wind and battery storage. ACME Solar Holdings Ltd is a renewable energy company in India with a diverse portfolio across solar, wind, hybrid and FDRE projects. The company is one of the top 10 renewable energy independent power producers in India with an operational capacity of 2,540 MW and an under-construction capacity of 4,430 MW.

Since its listing on the stock exchanges, ACME Solar Holdings and its subsidiaries have secured multiple debt financing for renewable energy projects. In mid-November last year, a few days after its listing, ACME Sun Power, a subsidiary of ACME Solar Holdings, had secured term loan financing of Rs 3,753 crore from state-owned REC Ltd for the development and construction of 320 MW green energy projects in collaboration with SJVN.

ACME Renewtech Private Limited, a subsidiary of ACME Solar Holdings Ltd, had secured term loan financing of Rs 1,988 crore from Power Finance Corporation (PFC) for the development and construction of a 300 MW solar-wind hybrid renewable energy project.