Acme Solar Holdings signs 400 MW FDRE power purchase agreement with NTPC

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Renewable energy

Blacklitt Research29 October 20262 min read

A ground-mounted solar panel array on metal frames in a snowy field, with a red barn in the background — Wikideas1, via Wikimedia Commons (CC0). Illustrative image.

Acme Solar Holdings (NSE: ACMESOLAR) said in a filing on 29 Oct 2026 that its wholly owned subsidiary ACME Marigold Urja Private Limited has executed a Power Purchase Agreement with NTPC Limited for a 400 MW Firm and dispatchable Renewable Energy project under NTPC's FDRE Tranche 01. The tariff is ₹4.37 per unit.

Key highlights

Contract capacity: 400 MW under NTPC FDRE Tranche 01
Tariff: ₹4.37 per unit
Scheduled Commencement of Supply Date: 30 Jun 2028
Project tenure: 25 years from the SCSD

The PPA in numbers

Item	Detail
Awarded by	NTPC Limited
Contracting subsidiary	ACME Marigold Urja Private Limited, wholly owned by Acme Solar Holdings
Type	Power Purchase Agreement, domestic
Contract capacity	400 MW, Firm and dispatchable Renewable Energy (FDRE), NTPC FDRE Tranche 01
Tariff	₹4.37 per unit
Scheduled Commencement of Supply Date	30 Jun 2028
Project tenure	25 years from the SCSD

Scope and tariff of the PPA

The PPA covers a 400 MW firm and dispatchable renewable energy project under NTPC's FDRE Tranche 01. The company's filing gives the tariff as ₹4.37 per unit, which is the only price term disclosed.

Supply is scheduled to commence on 30 Jun 2028, and the tenure is 25 years from that date, so the contracted supply period runs to the end of the 25 years counted from the SCSD.

A voluntary disclosure with a related Blacklitt filing trail

The company describes this disclosure as voluntary.

The company's other recent filings include a 16 Oct 2026 notice of execution of a PPA, so this is not the first PPA notice in the last few weeks. The filing does not say whether the two agreements are linked.

What the NTPC PPA means for Acme Solar Holdings' shareholders

The PPA is executed by a wholly owned subsidiary, and the filing gives a 400 MW capacity and a ₹4.37 per unit tariff for a 25-year tenure. Against a market value of ₹29,027 crore at the 28 Oct 2026 close, the filing does not give the contract value in rupees over the tenure.

Not stated: the equity or capital expenditure needed for the project, the expected revenue or profit from it, its location, its financing, and any penalties beyond the tenure and SCSD. The next dated step is the Scheduled Commencement of Supply Date on 30 Jun 2028.

Reference: Original filing (PDF)

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