New Delhi: State-owned hydropower major NHPC Limited has signed a Power Purchase Agreement (PPA) for the procurement of 250 MW of Firm and Dispatchable Renewable Energy (FDRE) power from ACME Urja One Private Limited, a wholly owned subsidiary of ACME Solar Holdings Limited.
The agreement strengthens NHPC’s renewable energy portfolio while providing long-term revenue visibility to ACME Solar in the fast-growing FDRE segment.
Details of the Power Purchase Agreement
The PPA has been executed in accordance with the provisions of SEBI Listing Regulations and is based on the Request for Selection (RfS) issued by NHPC. The 250 MW FDRE project will be developed and operated by ACME Urja One.
Power from the project will be supplied as per the agreed contractual terms over the duration of the agreement.
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Tariff, Project Timeline and Tenure
The project has been awarded at a competitive tariff of Rs 4.33 per unit. The scheduled commercial operation date (SCOD) for the project is June 30, 2027.
The tenure of the PPA will be 25 years from the date of signing, ensuring long-term clean power supply for NHPC and stable revenues for ACME Solar.
Regulatory and Transaction Details
NHPC clarified that the contract has been awarded to a domestic entity and does not involve any promoter group or related party interests. ACME Solar confirmed that the transaction does not qualify as a related party transaction, in line with regulatory disclosures.
Strengthening India’s FDRE and Clean Energy Capacity
The signing of the PPA marks another step in NHPC’s strategy to expand renewable energy procurement, particularly in firm and dispatchable renewable power that supports grid stability. For ACME Solar, the agreement enhances its presence in the FDRE segment and adds long-term contracted capacity to its portfolio.
About NHPC Limited
NHPC Limited is a Government of India public sector undertaking and one of the country’s leading hydropower developers. In addition to hydropower, NHPC is actively expanding into solar, wind and hybrid renewable energy projects to support India’s clean energy transition and long-term energy security goals.
About ACME Solar
ACME Solar Holdings Limited is a leading renewable energy company in India with a strong presence across solar, wind, hybrid and FDRE projects. The company focuses on large-scale clean energy development with long-term power purchase agreements.
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