ACME Solar SECI Power Deal

ACME Solar Signs 300 MW Power Supply Deal With SECI at Rs 6 per Unit

Energy and Utility

ACME Solar signs a 300 MW peak power supply agreement with SECI at Rs 6 per unit, backed by 1,200 MWh of energy storage capacity.

ACME Solar signed a 300 MW power supply agreement with SECI at Rs 6 per unit
The project includes 1,200 MWh of energy storage capacity
Signed PPA capacity under construction has reached 4,310 MW
The agreement requires four hours of daily supply during non-solar hours
ACME Solar shares rose 72.45% year to date, according to the supplied report

ACME Solar Holdings has agreed to provide 300 MW of firm peak power at Rs 6 per unit. The deal aims to address electricity shortages in the evenings and at night, when solar power generation is minimal. The ACME Solar SECI power supply agreement highlights the growing role of battery storage for renewable energy in India.

The agreement was signed through its wholly owned subsidiary, ACME Greentech Twenty, for the 1,200 MWh energy storage facility under SECI's FDRE-IX project.

After signing the deal, ACME Solar's signed PPAs for projects under development reached 4,310 MW, while its total contracted capacity under construction stands at 5,380 MW. The company must deliver 4 MWh of electricity per MW of contracted capacity daily for four hours during non-solar hours. It is also required to maintain at least 90% availability each month.

The project will combine solar generation with a Battery Energy Storage System (BESS). Excess electricity generated during periods of high solar output will be stored and delivered when demand increases.

According to ACME Solar Holdings' regulatory filing, the project will use the company's existing night-time grid connectivity. The company said, “The project would integrate a combination of Solar and Battery Energy Storage System (BESS) technologies to meet the contracted obligations and would utilize the night-time connectivity already available with the company.”

The company has a contracted renewable energy portfolio of 8,370 MW across solar, energy storage, firm and dispatchable renewable energy, hybrid and wind projects. Its operational capacity stands at approximately 3,123 MW, alongside 4.96 GWh of energy storage capacity.

ACME Solar's stock has increased by 6.44% over the last three months and 72.45% on a year-to-date basis, according to the supplied report. Business Honor observes that the agreement highlights the growing role of battery storage in delivering renewable electricity beyond daylight hours.