ACME Solar Holdings Limited, through its wholly owned subsidiary ACME Marigold Urja Private Limited, has signed a Power Purchase Agreement (PPA) with NTPC Limited for a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project at a tariff of ₹4.37 per unit. The agreement strengthens ACME Solar’s contracted renewable energy portfolio and supports the development of reliable, dispatchable clean power capacity in India.
The PPA was executed under NTPC’s FDRE Tranche 01 and establishes a long-term arrangement for supplying renewable electricity. The scheduled commencement of supply date is June 30, 2028, and the agreement will remain effective for 25 years from the commencement of power supply.
FDRE Project to Support Reliable Renewable Power Supply
The 400 MW project falls under the FDRE category, which combines renewable energy generation with energy storage and other resources, where required, to deliver electricity according to specified supply schedules.
Unlike conventional solar and wind projects, which depend on weather conditions, FDRE projects are designed to provide greater flexibility in matching electricity supply with demand. Battery energy storage systems can help store surplus renewable electricity and discharge it during periods of high demand or lower renewable generation.
Such projects are gaining importance as India expands its renewable energy capacity and seeks to improve grid stability while reducing dependence on fossil fuel-based electricity generation.
25-Year Agreement Establishes Long-Term Revenue Framework
Under the agreement, electricity will be supplied at a fixed tariff of ₹4.37 per unit. The 25-year PPA provides a long-term contractual framework for the project, with power supply scheduled to begin on June 30, 2028.
The agreement with NTPC, a major public sector energy company, adds to ACME Solar’s contracted renewable energy capacity and strengthens its position in India’s emerging FDRE market.
The company also disclosed that neither its promoter nor any member of the promoter group has an interest in the entity awarding the contract. It further confirmed that the agreement does not constitute a related-party transaction.
ACME Solar Expands Its Renewable Energy Portfolio
ACME Solar Holdings has a diversified contracted portfolio spanning solar, wind, hybrid renewable energy, battery energy storage systems (BESS) and FDRE projects. The company is expanding its presence in integrated renewable energy solutions as demand grows for clean electricity that can be delivered reliably to the grid.
The latest agreement reflects the increasing role of dispatchable renewable energy in India’s power sector. By combining renewable generation with flexible supply arrangements, FDRE projects can help address the variability of solar and wind power while supporting the country’s clean energy transition.
The 400 MW PPA with NTPC adds a long-term contracted project to ACME Solar’s portfolio, with commercial power supply scheduled to commence in June 2028.
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