ACME Solar Holdings Limited has announced that 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. The agreement marks another step in the company’s efforts to expand its renewable energy portfolio and support the integration of reliable clean power into India’s electricity grid.
The PPA has been signed under NTPC’s Firm and Dispatchable Renewable Energy Tranche 01. The project is designed to supply renewable electricity with greater flexibility and reliability, helping address the challenges associated with the intermittent nature of solar and wind power generation. Firm and dispatchable renewable energy projects can support grid stability by aligning electricity supply with demand requirements.
Under the agreement, the contracted power will be supplied at a fixed tariff of ₹4.37 per unit. The Scheduled Commencement of Supply Date is June 30, 2028. The PPA will remain effective for 25 years from the commencement of power supply, providing a long-term contractual framework for the project.
The agreement represents a domestic contract awarded by NTPC Limited, one of India’s major public sector energy companies. The long-term arrangement is expected to provide a defined revenue framework for the contracted capacity, subject to the terms and conditions of the agreement. The project also aligns with the broader development of renewable energy solutions capable of delivering dependable electricity to consumers.
ACME Solar Holdings clarified that neither its promoter nor members of the promoter group have any interest in the entity awarding the contract. The company also confirmed that the agreement does not constitute a related-party transaction.
The signing of the PPA strengthens ACME Solar’s presence in India’s renewable energy market, particularly in the emerging FDRE segment. As the country increases its renewable energy capacity, projects combining clean electricity generation with reliable supply arrangements are gaining importance.
With a 400 MW contracted capacity, a fixed tariff of ₹4.37 per unit and a 25-year agreement period, the project represents a significant addition to ACME Solar’s long-term renewable energy development plans.
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