ACME Solar signs PPA with NFR for 130 MW round-the-clock project
ACME Solar Holdings Limited’s wholly owned subsidiary, ACME Marigold Urja Private Limited, has signed a Power Purchase Agreement (PPA) with Northeast Frontier Railway (NFR) for a 130 MW Round-the-Clock (RTC) renewable energy power project.
The PPA was executed on August 26, 2026, following the company’s initial disclosure of the project on December 24, 2025. The agreement has a tenure of 25 years, with the Scheduled Commencement of Supply Date (SCSD) set for February 25, 2029.
The project was awarded by REMC Limited, with the PPA signed with NFR. The tariff is set at Rs 4.35 per kWh for each year of the agreement’s tenure. The contract is domestic in nature.
Project details
The RTC project will provide renewable power under a long-term arrangement with NFR. The 25-year PPA establishes the commercial framework for supply from the 130 MW project, with supply scheduled to commence from February 25, 2029.
In its filings with the BSE and NSE, ACME Solar confirmed that the transaction does not constitute a related party transaction and that the promoter group has no interest in the awarding entity. The disclosure was made voluntarily under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Financials
ACME Solar reported consolidated total revenue of Rs 954 crore for the quarter ended June 30, 2026, an increase of 63.3% year-on-year. Profit After Tax (PAT) rose 80% to Rs 235 crore, while Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased 56.5% to Rs 831 crore during Q1 FY27.
The featured photograph is for representation only.
