ACME Solar Secures 400 MW Renewable Energy PPA From NTPC in India

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 in India.

ACME Solar Signs 25-Year NTPC PPA

The agreement strengthens ACME Solar’s contracted renewable energy portfolio and supports the development of clean power solutions designed to deliver electricity more reliably. The PPA falls under NTPC’s Firm and Dispatchable Renewable Energy Tranche 01.

It establishes a fixed tariff of USD 0.046 per unit, with power supply scheduled to commence on June 30, 2028. The agreement will remain in effect for 25 years from the start of supply.

FDRE Project to Improve Renewable Power Reliability

The project is part of the growing FDRE segment, which aims to address the variability of renewable sources such as solar and wind power. By enabling electricity supply to be scheduled in line with demand, FDRE arrangements can help improve the reliability of renewable energy delivered to the grid.

As India continues to expand its clean energy capacity, dispatchable renewable power solutions are gaining importance in balancing electricity demand with variable generation. The project adds to the development of renewable energy procurement arrangements that emphasize both clean power and supply flexibility.

25-Year Agreement Establishes Long-Term Supply Framework

Under the PPA, the contracted 400 MW capacity will be supplied at a tariff of USD 0.046 per unit. The scheduled commencement date of June 30, 2028, defines the planned start of electricity deliveries, while the 25-year term provides a long-term contractual framework.

For ACME Solar, the agreement expands its portfolio of contracted renewable energy capacity and provides long-term revenue visibility, subject to the terms of the PPA. NTPC, meanwhile, will procure power under its FDRE tranche as part of its broader renewable energy procurement activities.

ACME Solar Confirms Agreement Is Not a Related-Party Transaction

ACME Solar Holdings clarified that neither its promoter nor any member of the promoter group has an interest in NTPC Limited in connection with the contract. The company also confirmed that the agreement does not qualify as a related-party transaction.

The PPA further strengthens ACME Solar’s presence in India’s renewable energy market, particularly in the FDRE segment, where projects seek to combine clean electricity generation with greater control over supply schedules.

With 400 MW of contracted capacity, a fixed tariff and a 25-year agreement, the project represents another addition to ACME Solar’s long-term renewable energy portfolio. Electricity supply is scheduled to begin in June 2028.