ACME Solar Holdings announced on Wednesday, June 25, that its wholly owned subsidiary ACME Sikar Solar has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 300 MW solar power project in Rajasthan. The agreement is set at a fixed tariff of ₹3.05 per unit.

According to a stock exchange filing, the agreement follows the successful commissioning of the 300 MW capacity by ACME Sikar on June 23, 2025. As per the PPA terms, power supply must begin on or before June 30, 2025. Since the project’s commercial operation is scheduled before this deadline, it qualifies for an Inter-State Transmission System (ISTS) charge waiver.

With this addition, ACME Solar’s total PPA-signed portfolio now stands at 5,130 MW. Out of this, 2,890 MW is already operational while the remaining capacity is in various stages of implementation.

The Sikar project was awarded under the SECI ISTS XVIII Tranche, and the tariff was officially approved by the Central Electricity Regulatory Commission (CERC) on May 30, 2025.

ACME Solar also has a pipeline of 1,840 MW for which Letters of Award (LOA) have already been received. Approximately 86 percent of the company’s power offtake is contracted with central government enterprises, with the remaining 14 percent linked to state distribution companies.

In a separate development on June 23, 2025, the company secured a refinancing deal worth RS 1,072 crore for its 250 MW operational project in Rajasthan. The refinancing was facilitated by a consortium led by Bank of America and Standard Chartered Bank.

ACME Solar manages the entire lifecycle of its solar projects through in-house engineering, procurement, construction, and operations and maintenance (O&M) teams, ensuring full control and efficiency in project execution.