In order to purchase 250 MW of firm and dispatchable renewable energy power from ACME Urja One Private Limited, a fully owned subsidiary of ACME Solar Holdings Limited, state-owned hydropower company NHPC Limited has inked a Power Purchase Agreement.
The deal, which relates to a 250 MW FDRE project that ACME Urja One would develop, was signed in accordance with the SEBI Listing Regulations. The power will be provided in accordance with the conditions of the NHPC’s selection request.
The project was given a rate of Rs 4.33 per unit. The anticipated commercial operating date for the project is June 30 2027. The power purchase agreement will be in effect for 25 years after it is signed. The contract has been granted to a domestic firm and does not involve any promotional group or linked party interest. The deal does not qualify as a related party transaction, according to ACME Solar.
The PPA’s signing gives ACME Solar long-term revenue visibility in the company and dispatchable renewable energy segment while also marking another step in NHPC’s expansion of its renewable energy procurement portfolio.
