ACME Solar signs 250 MW PPA with NHPC in Rajasthan

India-based ACME Solar has signed a 25-year power purchase agreement (PPA) with NHPC for a 250MW Firm and Dispatchable Renewable Energy (FDRE) project in Rajasthan. The agreement was secured at a tariff of INR4.56 (~ $0.0546)per kWh. The project will utilize a combination of solar, wind, and battery storage technologies, delivering a minimum 40% annual capacity utilization factor and meeting 90–40% of peak demand over four hours daily. Following this deal, ACME’s total PPA-signed portfolio has reached 5.13GW, with 2.83GW operational. The company holds a diversified 6.97GW renewable portfolio and is advancing a 1.84GW pipeline backed by Letters of Award. The agreement with AAA-rated NHPC strengthens ACME’s position in India’s energy market and contributed to a 2.23% rise in its share price.