SJVN Awards 450 MW FDRE Power Purchase Agreement to ACME Solar
New Delhi: In a major boost for India’s renewable energy sector, SJVN Limited has awarded two Power Purchase Agreements (PPAs) to ACME Greentech Seventh Private Limited, a wholly owned subsidiary of ACME Solar Holdings Limited, for a total capacity of 450 MW.
The agreements cover contract capacities of 300 MW and 150 MW, forming a Firm and Dispatchable Renewable Energy (FDRE) Power Project. The project is a domestic initiative with no promoter or group involvement from ACME in SJVN, ensuring transparency and arm’s-length execution.
Project Timeline and Financials
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Scheduled Commencement of Supply: March 1, 2028
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Project Tenure: 25 years from SCSD
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Tariff: Rs. 6.74 per unit
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Total Capacity: 450 MW (300 MW + 150 MW)
The PPAs are aligned with India’s renewable energy targets and are expected to enhance grid stability due to the dispatchable nature of the project, providing reliable power supply alongside solar generation.
Strategic Significance
This agreement strengthens ACME Solar’s position in India’s solar energy market, expanding its footprint in large-scale renewable energy projects. The FDRE model ensures that power generated can be dispatched based on demand, offering a flexible and sustainable energy solution.
SJVN Limited, a leading power generation and transmission company, continues to drive India’s energy transition by entering into long-term agreements with private sector renewable players.
ACME Solar Holdings Limited emphasized that the project supports its vision of delivering innovative, large-scale, and sustainable renewable energy solutions across India.
The disclosure has been submitted to BSE Limited and National Stock Exchange of India (NSE) in accordance with SEBI Listing Regulations.