ACME Solar Holdings Ltd. announces a new order win
TL;DR
What is the tariff rate discovered for this 300 MW SECI PPA, and how does this rate compare to the weighted average tariff of ACME’s existing operational solar portfolio?
The 300 MW SECI FDRE-IX PPA tariff was discovered at Rs 6.00 per kWh [1]. ACME’s existing operational portfolio weighted-average tariff is Rs 3.40 per kWh [2].
- Absolute premium: Rs 2.60 per kWh.
- Relative premium: approximately 76.5% higher than the operational portfolio average, calculated as Rs 2.60 divided by Rs 3.40.
- Multiple: approximately 1.76x the existing operational average.
The comparison is directional rather than fully like-for-like: the new PPA is for assured peak power under FDRE, whereas the operational average is reported for ACME’s existing operational portfolio, which is predominantly conventional solar. The higher tariff therefore partly reflects the added value and cost of firm, dispatchable supply.
What is the estimated capital expenditure (Capex) per MW for this project, and what is the planned debt-to-equity funding mix as disclosed in the project financing structure?
The disclosed project funding implies Rs 5.24 Crores per MW, calculated as Rs 1,571 Crores divided by the 300 MW project capacity. However, this is funding per MW, not confirmed total project Capex per MW; the total project cost was not reported in the cited disclosure. [3]
The debt-to-equity mix cannot be calculated from the disclosed figures. IIFCL funding of Rs 1,571 Crores represents project financing, but the project’s total cost and sponsor-equity contribution were not specified. Therefore, the disclosed structure supports only:
Following this 300 MW award, what is the updated split of ACME’s total capacity across operational, under-construction, and awarded stages, and what is the Scheduled Commissioning Date (SCD) for this specific project?
Following the 300 MW FDRE-IX award, ACME’s capacity split becomes:
- Operational: 2,990 MW
- Under construction: 5,080 MW
- Newly awarded: 300 MW
- Total capacity: 8,370 MW, derived as 2,990 + 5,080 + 300 MW. The earlier portfolio was reported at 8,070 MW, while the new SECI award added 300 MW. [4] [5]
For this specific 300 MW FDRE-IX project, the Scheduled Commencement of Supply Date (SCSD)—the filing’s terminology for the commissioning/supply milestone—is 6 April 2028. [1]
- The 8,370 MW total assumes the 300 MW award was incremental to the previously reported 8,070 MW portfolio.**
Sources
- [1]ACME Solar Holdings Executes 300 MW Power Purchase Agreement with SECI Limited — 2026-10-16T20:31:34.870000, p.2
- [2][PDF] Investor Presentation - ACME Solar Holdings Limited — Acmesolar, 2026-05-07T00:00:00
- [3]ACME Solar raises Rs 1,571 crore for 300 MW Rajasthan power project - The Economic Times — Economic Times, 2026-08-27T00:00:00
- [4]acme solar holdings: ACME Solar inks PPA with SECI to supply power from 300MW wind-solar project - The Economic Times — Economic Times, 2026-07-21T00:00:00
- [5]ACME Solar Holdings secures SECI contract for 300 MW capacity — Ptinews, 2026-10-16T16:02:11.950304
Keep digging
