ACME Sikar Solar Partners to Provide Electricity from 300MW Rajasthan Project

Key Takeaways

ACME Sikar Solar has signed a 25-year power purchase agreement for a 300 MW solar project in Rajasthan at a fixed tariff of Rs 3.05 per kWh.
The project is expected to supply power by June 30, 2025, and benefits from a waiver on Inter-State Transmission System charges.
ACME Solar’s total PPA portfolio now stands at 5,130 MW, with 2,890 MW operational and 1,840 MW in the pipeline.

Agreement Details

ACME Solar Holdings announced that its subsidiary, ACME Sikar Solar, has entered into a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) for a substantial 300 MW solar project located in Rajasthan. This deal was finalized shortly after ACME Sikar commissioned the project’s capacity on June 23.

The agreement commits ACME Sikar Solar to supplying electricity to SECI for 25 years at a fixed tariff rate of Rs 3.05 per kilowatt-hour (kWh). This bid was secured under SECI’s ISTS XVIII Tranche. The tariff received formal approval from the Central Electricity Regulatory Commission (CERC) on May 30, 2025.

Project Timeline and Benefits

Under the terms of the agreement, the project is required to start supplying power by June 30, 2025. Furthermore, the initiative qualifies for a waiver of Inter-State Transmission System (ISTS) charges, since its Scheduled Commercial Operations Date (SCOD) is before the government’s June 2025 deadline. This aligns with government strategies aimed at promoting the rapid operationalization of renewable energy projects.

ACME Solar’s Portfolio Expansion

This milestone significantly enhances ACME Solar’s capacity, bringing its PPA-signed total to 5,130 MW. Of this, 2,890 MW is already operational, while the rest is at various stages of development. The company also has a firm pipeline totaling 1,840 MW for which it has received Letters of Award (LOA).

ACME Solar boasts a diverse renewable energy portfolio of 6,970 MW that includes solar, wind, FDRE, and hybrid solutions. Notably, 86 percent of its power offtake is contracted with central government enterprises, with the remaining 14 percent associated with state distribution companies (discoms).

In summary, the recent PPA marks a significant step forward for ACME Solar Holdings as it continues to strengthen its position in the renewable energy sector, actively contributing to India’s clean energy goals.

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