New Delhi: State owned hydropower major NHPC Limited has signed a Power Purchase Agreement for procurement of 250 MW of firm and dispatchable renewable energy power from ACME Urja One Private Limited a wholly owned subsidiary of ACME Solar Holdings Limited.
The agreement has been executed under the provisions of SEBI Listing Regulations and pertains to a 250 MW FDRE project to be developed by ACME Urja One. The power will be supplied as per the terms of the request for selection issued by NHPC.
The project has been awarded at a tariff of Rs 4.33 per unit. The scheduled commercial operation date for the project is June 30 2027. The tenure of the power purchase agreement will be 25 years from the date of signing.
The contract has been awarded to a domestic entity and does not involve any promoter group or related party interest. ACME Solar clarified that the transaction does not fall under related party transactions.
The signing of the PPA marks another step by NHPC in expanding its renewable energy procurement portfolio while providing ACME Solar long term revenue visibility in the firm and dispatchable renewable energy segment.