ACME Solar Holdings Limited, through its wholly owned subsidiary ACME Marigold Urja Private Limited, has signed a 25-year Power Purchase Agreement (PPA) with NTPC Limited for a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project in India.

PPA Sets Fixed Tariff and 25-Year Supply Term

The agreement establishes a long-term power supply arrangement designed to support the delivery of more reliable renewable electricity. The PPA was signed under NTPC’s Firm and Dispatchable Renewable Energy Tranche 01.

Under the agreement, the contracted electricity will be supplied at a fixed tariff of USD 0.046 per unit, with the Scheduled Commencement of Supply Date set for June 30, 2028. The 25-year term will begin from the commencement of power supply.

FDRE Project to Support Reliable Renewable Power

The project falls under the FDRE segment, which aims to address the variability of renewable energy sources such as solar and wind.

By combining renewable generation with arrangements that allow electricity supply to be scheduled to meet demand, FDRE projects can help improve the reliability of clean power delivered to the grid.

Such projects are becoming increasingly relevant as India expands renewable energy capacity and seeks to maintain a dependable electricity supply. Their ability to align generation with demand can support grid management as the share of variable renewable energy increases.

Long-Term PPA Establishes Power Tariff and Supply Timeline

The agreement sets a fixed tariff of USD 0.046 per unit for the contracted power. The scheduled supply commencement date of June 30, 2028, provides a defined timeline for the start of deliveries, while the 25-year contract establishes a long-term framework for the project.

For ACME Solar, the PPA adds contracted capacity to its renewable energy portfolio and provides revenue visibility over the agreement period, subject to the contract’s terms and conditions. For NTPC, the arrangement supports its efforts to procure renewable electricity through its FDRE program.

ACME Solar Confirms No Related-Party Transaction

ACME Solar Holdings stated that neither its promoter nor any member of the promoter group has an interest in NTPC, the entity awarding the contract. The company also confirmed that the agreement does not constitute a related-party transaction.

The signing strengthens ACME Solar’s position in India’s renewable energy market, particularly in the FDRE segment, where projects are designed to provide cleaner electricity with greater supply flexibility.

With 400 MW of contracted capacity, a fixed tariff of USD 0.046 per unit and a 25-year PPA, the agreement represents a long-term addition to ACME Solar’s renewable energy business. The project is scheduled to begin supplying power in June 2028.

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