ACME Solar wins SECI 300 MW LoA with 25-year PPA (2026)

Key development: SECI issues 300 MW Letter of Award

ACME Solar Holdings said it has received a Letter of Award (LoA) from Solar Energy Corporation of India (SECI) for a contracted capacity of 300 MW. The company disclosed the award through an exchange filing. The project sits within SECI’s assured peak power procurement framework, which is designed to secure renewable power that can be delivered during defined peak periods.

The contracted capacity is 300 MW, and the tariff is fixed at ₹6 per kWh for the entire tenure of the power purchase agreement (PPA), as per the filing. The award is linked to SECI’s tender for assured peak supply of 6,000 MWh, described as 1,500 MW for four hours. ACME Solar’s 300 MW slice implies 1,200 MWh of supply during the four-hour duration.

What the SECI-FDRE-IX tender covers

The LoA has been secured under SECI’s 6,000 MWh assured peak power tender, referenced as FDRE-IX. The tender is described as “selection of RE Power Developers for assured peak supply of 6,000 MWh (1,500 MW x 4 hrs.) from ISTS connected RE projects in India, under tariff-based competitive bidding (SECI-FDRE-IX).”

The company also noted that the tender process was conducted through tariff-based competitive bidding, including an e-reverse auction. The structure matters because discovered tariffs in such auctions become the key economic variable that developers must work within for the full contract period.

Tariff, PPA tenure, and supply schedule

ACME Solar’s filing states the tariff is ₹6 per kWh for the entire PPA tenure. The scheduled commencement of supply date (SCSD) is 18 months from the date of PPA signing. The project tenure is 25 years from the date of SCSD.

Taken together, the award outlines a long-duration contracted revenue profile, but the operational start depends on completing development and commissioning within the defined timeline. The 18-month window is tied to the execution date of the PPA, not the LoA date, based on the disclosure.

Order size and disclosed order book reference

In the information provided, the project is also described as a confirmed work order worth ₹300 crore from SECI for the 300 MW assured peak power project. The same material indicates the order contributes to a total disclosed order book of ₹300.00 crore in Q2FY27.

While the LoA and order value are referenced together, the company’s disclosure highlights the contracted capacity, tariff, and tenure-related details as the core award terms.

Market reaction: shares up 2.41% in afternoon trade

A market update included with the details said ACME Solar’s shares gained 2.41% in afternoon trade following the disclosure of the 300 MW order. Another snapshot referenced that shares were under pressure on August 25, even as the company disclosed it had emerged as a successful bidder in the same SECI assured peak power auction.

The price action indicates that market sentiment moved around the disclosure and subsequent coverage, but the confirmed data point in the provided material is the 2.41% gain cited for August 28 afternoon trade.

Related financing: ₹1,571 crore for a 300 MW Rajasthan project

Separately, ACME Solar Holdings said it secured ₹1,571 crore in long-term project financing from India Infrastructure Finance Company Ltd (IIFCL) for the construction and development of its 300 MW assured peak power project in Rajasthan. The date mentioned for this financing update is August 27, 2026.

The company said this financing marked IIFCL’s first sole greenfield funding facility for ACME Solar, with IIFCL acting as the sole lender. The repayment tenor was stated as 19 years, and the company described the interest rate as competitive, without disclosing a specific rate figure in the provided text.

A note on tariff references across disclosures

Alongside the ₹6 per kWh tariff stated for the SECI-FDRE-IX LoA, the supplied material also references a separate executed PPA for a 300 MW assured peak power project at a tariff of ₹6.28 per unit, with supply scheduled to commence on May 28, 2028. That executed PPA is described under “FDRE Tranche VII,” and it is presented as a distinct disclosure item from the SECI-FDRE-IX LoA.

Because the figures appear in different contexts, the ₹6 per kWh tariff is tied to the SECI-FDRE-IX LoA described for the 300 MW contracted capacity award, while ₹6.28 per unit is tied to the separately referenced executed PPA under FDRE Tranche VII.

Key facts table

Why this matters for India’s peak power procurement

SECI’s assured peak power tenders are structured to procure renewable energy that can be scheduled for peak requirements, rather than only relying on generation during solar hours. The tender description explicitly references a four-hour assured supply window at scale.

For developers, such tenders can create longer visibility of contracted offtake through PPAs, but the economics hinge on the discovered tariff and the ability to deliver the required profile reliably. In ACME Solar’s case, the disclosed tariff for the FDRE-IX LoA is ₹6 per kWh across the full PPA tenure.

Conclusion

ACME Solar Holdings has disclosed a 300 MW LoA from SECI under the SECI-FDRE-IX assured peak power tender, with a tariff of ₹6 per kWh and a 25-year tenure from SCSD. Supply is scheduled to start 18 months after PPA signing. Separately, the company also disclosed ₹1,571 crore of long-term financing from IIFCL for a 300 MW assured peak power project in Rajasthan, dated August 27, 2026.