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ACME Solar Holdings shares jumped 6% after the company announced a long-term power supply agreement with NHPC, alongside strong Q3 numbers and an interim dividend.
ACME Solar is a major renewable energy player, while NHPC is a AAA-rated central PSU and hydropower producers.
About the deal: ACME Solar will invest around ₹3,700 crore in the project. The company has signed the deal through its arm ACME Urja One for a 250 MW Firm and Dispatchable Renewable Energy (FDRE) project.
In simple terms, it means a clean power plant that can supply up to 250 MW of electricity. It can deliver power when needed, not just when the sun shines or the wind blows, making renewable energy more reliable.
The project will be linked to Inter-State Transmission System substations, and all connectivity approvals are already in place. It must supply 90% of peak power for 4 hours every day, with a minimum 40% CUF.
Why it matters: FDRE projects offer reliable, round-the-clock clean power, solving one of renewables’ biggest problems which is intermittency. Long-term PPAs also lock in stable cash flows for developers.
With this deal, ACME Solar’s PPA-signed portfolio rises to 5,630 MW, backed by a 2,140 MW pipeline.
