ACME Solar Holdings Limited, through its subsidiary ACME Marigold Urja Private Limited, has signed a Power Purchase Agreement (PPA) with NTPC Limited for a 400 MW Inter-State Transmission System (ISTS)-connected Firm and Dispatchable Renewable Energy (FDRE) project. The agreement has been signed under NTPC’s FDRE-01 tranche at a tariff of ₹4.37 per unit. The tariff has been adopted by the Central Electricity Regulatory Commission (CERC).
The project will be connected to the Raghanesda substation on the ISTS network. ACME Solar said it had secured the final grant of connectivity for the project and leased more than 800 acres of land for its development. The company is preparing to execute the project within the commissioning schedule specified in the PPA.
The FDRE project will combine renewable energy generation with energy storage systems to supply electricity according to the requirements of the offtaker. The configuration is intended to provide power across different periods of the day, including peak-demand hours, rather than relying only on generation when renewable resources are available.
The project carries a minimum annual Capacity Utilisation Factor (CUF) requirement of 40%. This will require the facility to maintain the specified level of annual electricity generation while meeting the dispatch obligations set out in the power purchase agreement.
FDRE projects combine renewable energy sources, such as solar and wind, with storage solutions to make electricity available when required. Energy storage can help manage variations in renewable generation and support the delivery of power during periods of higher demand.
The agreement adds a 400 MW project to ACME Solar’s portfolio of renewable energy developments and expands its participation in the firm and dispatchable power segment. The company is developing projects designed to supply renewable electricity in line with grid and buyer requirements.
ACME Solar said the land and connectivity arrangements for the project had been secured, allowing it to proceed with development activities. The company will now work towards construction and commissioning in accordance with the PPA timelines.
