ACME Solar signs power purchase pact for Rs 3,700 cr FDRE project with NHPC

ACME Solar Holdings on Friday announced signing a power purchase agreement with state-owned NHPC for a 250 MW firm and dispatchable renewable energy project. An FDRE (firm and dispatchable renewable energy project) project integrates advanced solar, wind and battery energy storage systems (BESS) to enable reliable energy dispatch during peak demand. In a statement, the company said the power purchase agreement (PPA) has been signed through its subsidiary ACME Urja One Private Limited. ACME Solar will establish the FDRE project at a capex investment of approximately Rs 3,700 crore. It is fast-tracking the project's construction and has already acquirednearly 40 per cent of the land requirement. The expected CUF (capacity utilisation factor) of this project is more than 60 per cent. Following this PPA, ACME Solar's total PPA-signed portfolio nowstands at 5,630 MW, complemented by a firm pipeline of 2,140 MW, where LOAs (letter of awards) have been awarded or are currently awaited, the copany said.