ACME Solar Secures 250 MW FDRE Project in NHPC’s Auction

ACME Solar Holdings Limited has secured a 250 MW Firm & Dispatchable Renewable Energy (FDRE) project during NHPC’s e-reverse auction on December 10, 2024, at a tariff of ₹4.56 per unit. The project also includes a green-shoe option, potentially increasing the capacity to 500 MW.

With this latest achievement, ACME Solar’s total installed capacity has reached 6,970 MW, reinforcing its position as a leader in India’s renewable energy sector.

Auction Details

The auction, titled “Supply of 1200 MW FDRE (Assured Peak Power Supply) from ISTS-Connected Renewable Energy Power Projects Coupled with ESS (Tranche VI),” focuses on procuring 1,200 MW of renewable energy integrated with Energy Storage Systems (ESS).

The project will deliver four hours of assured peak power, utilising a blend of solar, wind, and battery technologies to ensure a stable and reliable energy supply during high-demand periods.

Speaking of this achievement, the CEO of ACME Solar Holdings Limited, Nikhil Dhingra, said, “This win takes our overall portfolio to ~7 GW and a committed portfolio of long-term power supply with NHPC to 930 MW. Out of this 930 MW, our existing 680 MW 4-hour peak FDRE committed capacity with NHPC is expected to be converted to PPA shortly, given that NHPC has signed a 1,280 MW PSA recently with Uttar Pradesh.”

He further added, “We are looking forward to increasing our commitment to NHPC with this bid win and executing this project utilising CTU connectivity we already have in Rajasthan and Gujarat. This project is likely to have a Scheduled COD to be in FY 2027-28, assuming the PPA gets signed in early FY 2026.”

On December 12, 2024, ACME Solar Holdings share price opened at ₹279.00, touching the day’s high at ₹279.95, as of 10:05 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.