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ACME Solar Holdings subsidiary has secured two long-term power purchase agreements with SJVN for 450 MW of dispatchable renewable energy. The projects, awarded through tariff-based competitive bidding, will connect to ISTS substations and utilize night-time solar capabilities in Rajasthan. ACME Solar will provide four hours of guaranteed peak power during non-solar periods with high availability. This latest agreement adds to 1,690 MW of PPAs signed in the current financial year, taking the company's total signed capacity to 6,270 MW.
Acme Solar Holdings announced that its subsidiary, ACME Greentech Seventh Pvt Ltd, has signed two power purchase agreements with SJVN Ltd to supply a combined 450 MW under a Firm and Dispatchable Renewable Energy (FDRE) project. The agreements, which span 25 years, were finalized earlier this week. Advertisement
These projects were awarded under the tariff-based competitive bidding (TBCB) framework through an e-reverse auction held in October last year, with the letter of award received in November. The planned projects will connect to ISTS substations and leverage ACME Solar's night-time connectivity in high-irradiation areas of Rajasthan.
According to the agreements, ACME Solar is expected to provide four hours of assured peak power during non-solar hours, maintaining 90 percent availability on both monthly and annual levels. With this addition, the company has signed PPAs for 1,690 MW in the current financial year, bringing its total signed capacity to 6,270 MW.
Source PTI
FAQ
1. What recent agreements has ACME Solar signed?
ACME Solar Holdings subsidiary, ACME Greentech Seventh Pvt Ltd, has signed two long-term power purchase agreements (PPAs) with SJVN Ltd for a total of 450 MW under the Firm and Dispatchable Renewable Energy (FDRE) framework. These agreements are valid for 25 years and were signed to supply dispatchable renewable energy from Rajasthan.
2. Under which framework were these projects awarded?
The projects were awarded through a tariff-based competitive bidding (TBCB) process. The e-reverse auction took place in October last year, with the letter of award received in November. This competitive process ensures transparent pricing and efficient allocation of renewable energy projects.
3. What is unique about these dispatchable renewable energy projects?
These projects are designed to provide night-time solar power, making them dispatchable even when sunlight is not available. ACME Solar will provide four hours of guaranteed peak power during non-solar periods, maintaining 90% availability on both monthly and annual bases. This feature helps stabilize the grid and meet peak demand reliably.
4. How will these projects connect to the grid?
The renewable energy projects will be connected to ISTS substations in Rajasthan, leveraging ACME Solar's high-irradiation areas to maximize generation efficiency. The integration with ISTS ensures that electricity can be transmitted across India's national grid efficiently.
5. How does this agreement contribute to ACME Solar's overall portfolio?
With the addition of these 450 MW, ACME Solar has signed PPAs for 1,690 MW in the current financial year alone. This brings the company's total signed capacity to 6,270 MW, reinforcing its position as one of India's leading renewable energy developers with a strong pipeline of dispatchable and grid-connected solar projects.
6. Why are dispatchable solar projects significant for India's energy transition?
Dispatchable solar projects provide reliable electricity during non-daylight hours, addressing intermittency issues common in renewable energy. By offering assured peak power, these projects strengthen grid stability, support renewable integration, and help India meet its sustainable energy targets while reducing dependence on conventional thermal power.
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