Shares of ACME Solar Holdings Ltd were trading in red and 1% lower on 21 July despite the company announced that it has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) to supply power from a 300 MW Inter-State Transmission System (ISTS)-connected wind-solar hybrid renewable energy project. 

The agreement marks another significant milestone in the company’s expanding clean energy portfolio and strengthens its long-term revenue visibility.

The project, to be developed through ACME Solar’s wholly owned subsidiary, will combine wind and solar generation to deliver reliable renewable power. The tariff for the project has already received approval from the relevant central and state regulatory authorities, paving the way for timely execution.

With the signing of this agreement, ACME Solar’s contracted renewable energy portfolio has grown to 8,070 MW, reflecting the company’s continued expansion across solar, wind, hybrid, and energy storage projects. The company has been actively securing long-term PPAs to ensure stable cash flows while supporting India’s clean energy transition.

The latest PPA comes amid rising demand for hybrid renewable projects that combine multiple energy sources to improve grid reliability and optimize power generation. Such projects play a key role in helping India achieve its renewable energy targets while ensuring a consistent supply of electricity.

For ACME Solar, the agreement further reinforces its position as one of India’s leading renewable energy developers. With a growing pipeline of utility-scale projects and long-term power purchase agreements, the company is well-positioned to benefit from increasing investments in sustainable energy and the country’s push toward a low-carbon economy.

At 3:30 pm, the shares of ACME Solar Holdings closed 1.26% lower at Rs 372.80 on NSE.

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