ACME Solar Holdings Ltd. signed a 25-year Power Purchase Agreement (PPA) with NHPC Limited, a AAA rated central government enterprise, for its 250 MW Firm and Dispatchable Renewable Energy (FDRE) project in Rajasthan. The PPA has been signed at a tariU of INR 4.56 per kWh for a minimum annual Capacity Utilization Factor (CUF) of 40% and to meet 90% of peak power requirement of 4 hours daily. This PPA marks a significant step in strengthening ACME Solar's footprint in the FDRE space while supporting India's clean energy ambitions through an innovative mix of solar, wind, and battery storage technology.
The project will be connected to an ISTS substation for which connectivity is already in place. The requisite approval under section 63 of the Electricity Act 2003 for adoption of tariU has been issued by Hon'ble CERC on 19.06.2025 in petition number 87/AT/2025 filed by NHPC. Post the signing of this PPA, ACME Solar's PPA- signed portfolio stands at 5,130 MW of which 2,826.2 MW is already operational, and balance is under various stages of implementation.
Additionally, the company has a firm pipeline of 1,840 MW for which Letter of Award (LOA) has been received. ACME Solar's overall portfolio comprises 86% oUtake with central government enterprises and the rest 14% with State discoms.
NHPC Limited is an India-based company, which is primarily engaged in the generation and sale of bulk power to various power utilities. The Company’s other business activities include project management / construction contracts/ consultancy assignment services and trading of power. It has an installed capacity of approximately 8247.18 megawatts (MW), including 1681.70 MW in joint venture, comprising over 7771.20 MW from 23 hydro power stations, 425.98 MW from five solar power projects and 50 MW from a wind power project. Its power stations include Salal, Dulhasti, Chutak, Baira Siul, Tanakpur, Dhauliganga, Rangit, Loktak, Indira Saga, Chamera-I, Uri-I, Omkareshwa, and others. Its consultancy services offer survey and investigation, planning, design and engineering, construction, operation and maintenance, renovation, modernization and updating of hydropower projects. Its subsidiaries include NHDC Limited, Bundelkhand Saur Urja Limited, Lanco Teesta Hydro Power Limited, and others.
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
