ACME Solar Secures 250 MW FDRE Project In NHPC Auction, Expanding Portfolio To 7 GW

ACME Solar Holdings Limited has secured a 250 MW Firm & Dispatchable Renewable Energy (FDRE) project in an e-reverse auction conducted by NHPC on December 10, 2024. The tariff for this project is set at ₹4.56 per unit. The project includes a green-shoe option, allowing the capacity to expand from the initial 250 MW to 500 MW, further strengthening ACME Solar’s portfolio. With this win, the company’s total installed capacity now stands at approximately 6,970 MW.

The auction was titled “Supply of 1,200 MW FDRE (Assured Peak Power Supply) from ISTS-Connected Renewable Energy Power Projects Coupled with ESS (Tranche VI).” It aimed to procure 1,200 MW of renewable energy integrated with Energy Storage Systems (ESS). The project is designed to deliver four hours of peak power supply, leveraging a combination of solar, wind, and battery storage technologies. This integration ensures a stable and reliable energy supply during high-demand periods.

Nikhil Dhingra, CEO of ACME Solar Holdings Limited, commented on this milestone, noting that the win expands their overall portfolio to nearly 7 GW. ACME Solar’s committed portfolio with NHPC now totals 930 MW, including an existing 680 MW FDRE capacity expected to be converted to Power Purchase Agreements (PPAs) soon. NHPC recently signed a 1,280 MW Power Supply Agreement (PSA) with Uttar Pradesh, further bolstering this process.

The project is expected to use the company’s existing Central Transmission Utility (CTU) connectivity in Rajasthan and Gujarat, with a scheduled commercial operation date planned for FY 2027-28, assuming the PPA is finalized by early FY 2026. ACME Solar’s continued partnership with NHPC reflects its strong commitment to expanding India’s renewable energy capabilities.