ACME Platinum Urja announced that it has executed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) to set up a 200 MW Energy Storage System (ESS) project.
As per the terms of the contract, ACME Platinum Urja, a wholly owned subsidiary of ACME Solar Holdings, will supply 200 MW of renewable energy to SECI during solar hours and peak evening hours as per the buying entity’s schedule.
About the project
From the total 200 MW under the PPA, energy with an annual capacity utilisation factor (CUF) of 25%–27% will be supplied during solar hours. The company added that during evening peak hours, a minimum availability of 70% will be maintained on a monthly basis and 85% on an annual basis.
According to the company’s exchange filing, commercial operations are scheduled to begin on June 30, 2027. The project will run for 25 years from the date of signing of the agreement.
The PPA was signed on November 24, 2025, following tariff adoption by the Central Regulator and power procurement approval by the State Regulator. SECI had awarded a 350 MW Letter of Award to ACME in July 2024, of which 150 MW was formalised under a PPA in October 2024. With this agreement, the project will reach its full contracted capacity.
“ACME Solar has cumulatively signed PPAs of 800 MW contracted capacity which include BESS capacity of 2,320 MWh in the current financial year,” the company said in its official statement. This development brings ACME Solar’s overall PPA signed capacity to 5,380 MW.
Share Price
Following the announcement, ACME Solar’s share price rose by nearly 2% in the intraday session. Over the past five trading sessions the company’s stock has declined by 4%.