ACME Solar secures PPA for 300 MW hybrid wind-solar project in India

ACME Solar, through its subsidiary ACME Renewtech Fifth Pvt Ltd, has signed a 25-year power purchase agreement (PPA) with state-owned agency Solar Energy Corp. of India Ltd (SECI) for a 300 MW interstate transmission system (ISTS)-connected wind-solar hybrid renewable energy project.

The developer had secured the capacity at a tariff of INR 3.25 ($0.034) per kWh under SECI’s Hybrid Tranche IX. It said the tariff is already approved and adopted by Central and State Regulator.

The project is scheduled to commence power supply by June 30, 2028.

ACME said the hybrid project will connect to ISTS substations and utilize its already secured connectivity at high-irradiation and wind zones. Under the PPA, ACME Solar will supply power at a minimum annual capacity utilization factor (CUF) of 30%.

With this agreement, ACME Solar’s PPA-signed portfolio has increased to 6,870 MW, out of its total contracted RE portfolio of 8,070 MW across solar, wind, hybrid, firm and dispatchable renewable energy (FDRE), and energy storage projects.

The cumulative RE portfolio includes 2,990 MW of operational contracted capacity and 5,080 MW under construction, including 3,880 MW backed by signed PPAs. It is also developing about 3.62 GWh of battery energy storage system (BESS) capacity.