ACME Solar signs PPA with SECI for 300 MW / 1,200 MWh FDRE project at INR 6/unit, disclosed October 19, 2026 (NSE: ACMESOLAR)
The filings over the past six months show a company adding PPAs at a steady clip while simultaneously commissioning Battery Energy Storage System capacity across Rajasthan.
ACME Solar Holdings (NSE: ACMESOLAR, BSE: 544283) disclosed on October 19, 2026, that its subsidiary ACME Greentech Twenty Pvt Ltd signed a Power Procurement Agreement with SECI for a 300 MW / 1,200 MWh assured peak supply FDRE project. The tariff is INR 6 per unit, effective October 6, 2026. This PPA is the culmination of an order win the company first disclosed on August 25, 2026, when it emerged as a successful bidder in SECI’s FDRE-IX tender, followed by a Letter of Award received on August 28, 2026.
The filings over the past six months show a company adding PPAs at a steady clip while simultaneously commissioning Battery Energy Storage System capacity across Rajasthan.
The FDRE-IX tender win explained
On August 25, 2026, ACME Solar disclosed it had won a bid in SECI’s FDRE-IX tender for 1,500 MW assured peak power. The company secured 300 MW at a tariff of Rs. 6.00/kWh, with 1,200 MWh supply committed for four hours daily. The filing noted the project already has connectivity grant and most land secured — details the company said would “enable faster execution.” The formal Letter of Award followed on August 28, 2026, confirming a 25-year project tenure with scheduled commencement of supply 18 months from PPA signing. The PPA announced on October 19, 2026, is the signed agreement for this award.
What came before — the Q1 FY27 order book build
The FDRE-IX addition was preceded by three other PPA announcements in July and August 2026:
- July 21, 2026: ACME Solar executed a PPA with SECI for a 300 MW ISTS-connected Wind-Solar Hybrid project under Hybrid Tranche IX. The tariff is Rs. 3.25 per unit, with scheduled commencement of supply on June 30, 2028, and a 25-year tenure.
- August 26, 2026: ACME Marigold Urja Private Limited, a wholly owned subsidiary, signed a PPA with Northeast Frontier Railway (via REMC Limited) for a 130 MW round-the-clock renewable energy project at Rs. 4.35/kWh, also for 25 years.
- The Q1 FY27 earnings call transcript, published on August 4, 2026, stated the company signed 600 MW of FDRE and hybrid PPAs with SECI during the quarter.
The BESS commissioning timeline
Alongside the PPA announcements, the filings since mid-2026 show a series of BESS capacity additions across subsidiaries in Rajasthan. Selected milestones:
- June 1, 2026: 33.333 MW/160.512 MWh commissioned, taking total BESS to 266.669 MW/1283.936 MWh.
- July 20, 2026: 160.512 MWh commissioned, bringing one subsidiary to 285 MW/1,113.472 MWh.
- July 23, 2026: ACME Solar announced cumulative BESS commissioning of 2.29 GWh in FY27 to date, with total operational BESS at 3.62 GWh.
- August 27, 2026: 15 MW/240.752 MWh commissioned; that subsidiary reached 300 MW/1,354.224 MWh.
- September 14, 2026: 53.63 MW/300 MWh BESS Phase-I commissioned at an FDRE project in Bikaner.
- September 16, 2026: Total operational BESS crossed 4.16 GWh.
- October 1, 2026: Additional 107.36 MW/437.49 MWh commissioned; total operational BESS reached 4.96 GWh.
Funding rounds that parallel the buildout
The filings also show multiple project funding arrangements closed during this window:
- July 16, 2026: ₹2,646.64 crore from REC Ltd for a 450 MW/1,800 MWh FDRE project. Sole financier for 20 years.
- July 29, 2026: ₹3,404.57 crore from PFC for a 250 MW FDRE project. Repayment tenor of 19 years. Total funding raised in the fiscal year to date was ₹6,051 crore, per the filing.
- August 27, 2026: INR 1,571 crore from IIFCL for a 300 MW assured peak power project. 19-year repayment. The filing stated total financing secured in the fiscal year was INR 10,976 crore.
Additionally, on June 5, 2026, the company completed a ₹2,800 crore QIP — its first equity raise since listing — with participation from SBI MF, HDFC MF, BlackRock, Goldman Sachs, and Abu Dhabi Investment Authority. The stated use of proceeds: reduce leverage and strengthen the balance sheet.
Stated targets from filings
The Q1 FY27 earnings call transcript, published August 4, 2026, contains the company’s guidance revisions as disclosed to analysts. BESS commissioning guidance was upgraded to “greater than 10 GWh by FY27” (earlier CY27). Full-year FY27 capex guidance was raised to ₹15,000-20,000 crore. The company also stated it locked in over ₹1,400 crore in short-term BESS contracts.
The FDRE-IX PPA disclosed today carries a scheduled commencement of supply 18 months from the PPA signing date of October 6, 2026, per the filing.
What the numbers show
| Filing date | Metric | Figure | Source document | |-------------|--------|--------|-----------------| | July 29, 2026 | Q1 FY27 consolidated revenue | ₹954 Cr (+63% YoY) | Earnings call transcript (Aug 4, 2026) | | July 29, 2026 | Q1 FY27 EBITDA | ₹831 Cr (+56% YoY) | Earnings call transcript | | July 29, 2026 | Q1 FY27 PAT | ₹235 Cr (+80% YoY) | Earnings call transcript | | Oct 19, 2026 | Total operational BESS | 4.96 GWh | Oct 1, 2026 filing | | Aug 4, 2026 | BESS guidance (revised) | >10 GWh by FY27 | Earnings call transcript | | Aug 4, 2026 | Capex guidance FY27 | ₹15,000-20,000 Cr | Earnings call transcript |
Alpha Inflection is research infrastructure, not investment advice. We are not SEBI-registered investment advisers. Everything above is compiled from public corporate filings, with sources cited. Do your own research.
The filing evidence
| Date | What the filing said | Detail | Source |
|---|---|---|---|
| 21 Jul 2026 | ACME Solar signs 300 MW wind-solar hybrid PPA with SECI under Hybrid Tranche IX at Rs. 3.25/unit | ACME Solar Holdings, through its wholly owned subsidiary ACME Renewtech Fifth Private Limited, executed a Power Purchase Agreement with Solar Energy Corporation of India (SECI) for a 300 MW ISTS-connected Wind-Solar Hybrid Renewable Energy Project under Hybrid Tranche IX. The tariff is Rs. 3.25 per unit, with a scheduled commencement of supply date of 30 June 2028 and a 25-year project tenure. | filing |
| 25 Aug 2026 | ACME Solar wins 300 MW (1,200 MWh) assured peak power contract in SECI's FDRE-IX tender at Rs. 6.00/kWh, adding 1.2 GWh to its BESS pipeline. | ACME Solar emerged as a successful bidder in SECI's FDRE-IX tender for 1,500 MW assured peak power, securing 300 MW capacity at a tariff of Rs. 6.00/kWh, with 1,200 MWh supply for four hours daily. The project already has connectivity grant and most land secured, enabling faster execution. | filing |
| 26 Aug 2026 | ACME Solar executes PPA with Northeast Frontier Railway for 130 MW round-the-clock renewable energy project at Rs. 4.35/kWh for 25 years. | ACME Solar's wholly owned subsidiary, ACME Marigold Urja Private Limited, has signed a Power Purchase Agreement with Northeast Frontier Railway (via REMC Limited) to develop a 130 MW round-the-clock renewable energy project. | filing |
| 28 Aug 2026 | ACME Solar receives Letter of Award from SECI for 300 MW assured peak power project at Rs. 6.00/kWh under FDRE-IX tender. | ACME Solar Holdings has received a formal Letter of Award from SECI for a 300 MW contracted capacity under the 6,000 MWh (1,500 MW × 4 Hours) Assured Peak Power Tender (FDRE-IX), at a tariff of Rs. 6.00 per kWh for a 25-year project tenure, with scheduled commencement of supply 18 months from PPA signing. | filing |
| 19 Oct 2026 | ACME Solar signs PPA with SECI for 300 MW / 1,200 MWh assured peak supply FDRE project at INR 6/unit | ACME Solar, through its subsidiary ACME Greentech Twenty Pvt Ltd, signed a Power Procurement Agreement (PPA) with SECI for a 300 MW / 1,200 MWh assured peak supply FDRE project at a tariff of INR 6 per unit, effective October 6, 2026. | filing |
| 1 Jun 2026 | ACME Solar commissions additional 33.333 MW/160.512 MWh BESS capacity, taking total commissioned BESS capacity to 266.669 MW/1283.936 MWh. | ACME Solar, through its wholly owned subsidiary ACME Sun Power Private Limited, has commissioned an additional 33.333 MW/160.512 MWh of Battery Energy Storage System (BESS) capacity at a project in Rajasthan, with commercial operation date set for June 3, 2026. | filing |
| 5 Jun 2026 | ACME Solar successfully completes INR 2,800 Crore Qualified Institutional Placement, its first equity capital raise since listing | ACME Solar raised ₹2,800 crore through a QIP with strong participation from domestic mutual funds, insurance companies, and foreign institutional investors including SBI MF, HDFC MF, BlackRock, Goldman Sachs, and Abu Dhabi Investment Authority. Proceeds will be used to reduce leverage and strengthen the balance sheet. | filing |
| 25 Jun 2026 | ACME Solar Holdings announces resignation of Senior Vice President – Research and Development, Mr. Rishi Kumar Mishra. | Mr. Rishi Kumar Mishra, Senior Vice President – Research and Development and a Senior Management Personnel of ACME Solar Holdings, resigned effective June 25, 2026 to pursue external career opportunities. | filing |
| 16 Jul 2026 | ACME Solar secures ₹2,646.64 crore project funding from REC Ltd for its 450MW/1800MWh FDRE project in Rajasthan. | ACME Solar raised ₹2,646.64 crore in long-term project funding from REC Ltd for its ACME Greentech Seventh 450MW/1800MWh Assured Peak Power Project (FDRE with solar + BESS). REC Ltd is the sole financier for 20 years. The PPA for this project was signed with SJVN at ₹6.74/unit for 25 years. | filing |
| 20 Jul 2026 | ACME Solar subsidiary commissions 160.512 MWh BESS capacity in Rajasthan, adding to 285 MW / 1,113.472 MWh total commissioned capacity. | ACME Solar Holdings, through its wholly owned subsidiary ACME Suryodaya Private Limited, commissioned an additional 160.512 MWh of battery energy storage system (BESS) capacity in Jaisalmer, Rajasthan on July 20, 2026, with commercial operations starting July 22, 2026. This follows a prior update on July 15, 2026, and brings the subsidiary's total commissioned capacity to 285 MW / 1,113.472 MWh. | filing |
| 23 Jul 2026 | ACME Solar operationalizes 3.62 GWh of BESS capacity across Rajasthan, including ~2.29 GWh commissioned in FY27 so far. | ACME Solar announced that its subsidiaries have cumulatively commissioned 2.29 GWh of Battery Energy Storage System (BESS) capacity in the current financial year (FY27) to date, bringing total operational BESS capacity to 3.62 GWh across three sites in Rajasthan. The announcement also updates the root cause analysis of a July 17 incident, confirming an electrical short circuit that caused localized fire but no damage to other equipment; restoration is complete. | filing |
| 29 Jul 2026 | ACME Solar Q1FY26 consolidated revenue ₹8,575 Mn, +67.8% YoY; PAT ₹2,353 Mn, +79.8% YoY; OPM at 96.8% remains among the highest in the sector; 5th straight quarter of margin expansion on both YoY and QoQ basis | filing | |
| 29 Jul 2026 | ACME Solar reports 63% YoY revenue growth to ₹954 Cr and 80% PAT jump to ₹235 Cr for Q1 FY27, revises BESS guidance upward to 10+ GWh by FY27. | ACME Solar announced its Q1 FY27 results with total revenue of ₹954 Cr (up 63% YoY), EBITDA of ₹831 Cr (up 56% YoY), and PAT of ₹235 Cr (up 80% YoY). The company also commissioned ~2.3 GWh of BESS capacity in the quarter, taking cumulative BESS capacity to ~3.62 GWh, and revised its BESS commissioning guidance upward to 10+ GWh by FY27. It signed 600 MW of PPAs with SECI and secured short-term contracts with ₹1,400+ Cr revenue lock-in. | filing |
| 29 Jul 2026 | ACME Solar secures ₹3,404.57 crore project funding from PFC for its 250 MW FDRE project, taking total project funding raised this fiscal to ₹6,051 crore. | ACME Solar Holdings announced that it has raised ₹3,404.57 crore in long-term project funding from Power Finance Corporation Limited (PFC) for its ACME Urja One 250 MW FDRE (Firm Dispatchable Renewable Energy) project. The funding has a repayment tenor of 19 years and brings total project funding raised by the company this fiscal to ₹6,051 crore. | filing |
| 4 Aug 2026 | ACME Solar releases Q1 FY27 earnings call transcript, reporting record revenue and EBITDA, upgrading BESS commissioning guidance to >10 GWh by FY27-end and full-year capex to ₹15,000-20,000 crore. | ACME Solar published the transcript of its Q1 FY27 earnings conference call held on July 30, 2026, disclosing consolidated revenue of ₹954 crore (+63% YoY), EBITDA of ₹831 crore (+56% YoY), and PAT of ₹235 crore (+80% YoY). The company upgraded its BESS commissioning guidance to >10 GWh by FY27 (from CY27), raised FY27 capex guidance to ₹15,000-20,000 crore, and reported having locked in >₹1,400 crore in short-term BESS contracts. It also confirmed signing 600 MW of FDRE and hybrid PPAs with SECI during the quarter. | filing |
| 27 Aug 2026 | ACME Solar commissions 15 MW/240.752 MWh BESS project in Rajasthan, taking its subsidiary's total commissioned BESS capacity to 300 MW/1,354.224 MWh. | ACME Solar, through its wholly owned subsidiary ACME Suryodaya Private Limited, commissioned a 15 MW/240.752 MWh Battery Energy Storage System (BESS) project in Jaisalmer, Rajasthan on August 27, 2026, with commercial operation date August 29, 2026. This brings the subsidiary's total commissioned BESS capacity to 300 MW/1,354.224 MWh. | filing |
| 27 Aug 2026 | ACME Solar secures INR 1,571 crore project funding from IIFCL for a 300 MW assured peak power project in Rajasthan. | ACME Solar Holdings has raised INR 1,571 crore in long-term project funding from India Infrastructure Finance Company Ltd (IIFCL) for its ACME Renewtech Sixth 300 MW assured peak power project in Rajasthan. The funding is IIFCL's first sole greenfield finance to ACME, with a 19-year repayment tenor, and brings total financing secured by ACME this fiscal to INR 10,976 crore. | filing |
| 12 Sept 2026 | ACME Solar Holdings commissions Phase-I (66.68 MW) of its 300 MW solar power project in Rajasthan. | ACME Solar Holdings, through its subsidiary ACME Renewtech Private Limited, commissioned the first phase of a 300 MW solar power project, comprising 66.68 MW, located in Bikaner, Rajasthan. Commercial operation date is September 14, 2026. | filing |
| 14 Sept 2026 | ACME Solar commissions Phase-I (53.63 MW / 300 MWh) of BESS at its Rajasthan FDRE project, with COD set for September 16, 2026. | ACME Solar Holdings, through its wholly-owned subsidiary ACME Greentech Seventh Private Limited, has commissioned Phase-I of the Battery Energy Storage System (BESS) component, comprising 53.63 MW / 300 MWh, of the 300 MW / 1581 MWh FDRE project in Bikaner, Rajasthan. The commercial operation date (COD) is September 16, 2026. The renewable generation component is still under development. | filing |
| 16 Sept 2026 | ACME Solar commissions 66.68 MW solar and 300 MWh BESS Phase-I capacity in Rajasthan, crossing 4 GWh operational BESS milestone. | ACME Solar, through its subsidiary ACME Renewtech, commissioned Phase-I of its first hybrid project in Bikaner, Rajasthan, comprising 66.68 MW of solar (out of 300 MW total) and 300 MWh of BESS (out of 300 MW/1581 MWh total). The PPA is signed with NTPC, project financing with PFC, and full solar capacity is expected by Q3 FY27. Separately, via ACME Greentech Seventh, it commissioned 53.63 MW/300 MWh BESS Phase-I of its FDRE project, with total operational BESS now at 4.16 GWh. | filing |
| 18 Sept 2026 | ACME Solar board approves scheme to amalgamate three wholly-owned subsidiaries into itself. | The Board of ACME Solar Holdings approved a Scheme of Amalgamation to merge its direct/indirect wholly-owned subsidiaries — ACME Pokhran Solar (50 MW wind), ACME Sikar Solar (300 MW solar), and ACME Eco Clean Energy (100 MW wind) — into the parent company, with no share or cash consideration as the subsidiaries are already fully owned. | filing |
| 1 Oct 2026 | ACME Solar commissions Phase-I BESS of 53.73 MW / 222.969 MWh at its Rajasthan FDRE project | ACME Solar Holdings, through its wholly-owned subsidiary ACME Sigma Urja Private Limited, commissioned Phase-I of the BESS component (53.73 MW / 222.969 MWh) of its 250 MW / 1069 MWh FDRE project in Chittorgarh, Rajasthan. The commercial operation date is October 2, 2026. The corresponding renewable energy generation component is under development. | filing |
| 1 Oct 2026 | ACME Solar operationalizes additional BESS capacity of 107.36 MW / 437.49 MWh in Rajasthan. | ACME Solar has commissioned additional BESS capacity of 107.36 MW / 437.49 MWh across two projects in Rajasthan, bringing its total operational BESS capacity to 4.96 GWh. | filing |
| 3 Oct 2026 | ACME Solar Holdings appoints Nikhil Dhingra as Joint Managing Director for five years. | The Board of Directors of ACME Solar Holdings approved the appointment of Mr. Nikhil Dhingra as Joint Managing Director for a period of five years from October 3, 2026, subject to shareholder approval. His current role as Whole-Time Director is superseded, and he continues as CEO. | filing |
| 7 Oct 2026 | ICRA reaffirms ACME Solar's credit rating at AA- (Stable) and assigns enhanced total rating amount to Rs 3,500 crore. | ICRA reaffirmed ACME Solar Holdings' credit rating at '[ICRA]AA- (Stable)' and assigned the rating for enhanced amounts: long-term non-fund based others from Rs 1,850 cr to Rs 3,055 cr; long-term non-fund based unallocated from Rs 650 cr to Rs 445 cr; total rated amount increased from Rs 2,500 cr to Rs 3,500 cr. | filing |
Quick answers
- What did ACME Solar Hold. disclose?
- ACME Solar Holdings (NSE: ACMESOLAR, BSE: 544283) disclosed on October 19, 2026, that its subsidiary ACME Greentech Twenty Pvt Ltd signed a Power Procurement Agreement with SECI for a 300 MW / 1,200 MWh assured peak supply FDRE project. The tariff is INR 6 per unit, effective October 6, 2026.
- What are the key numbers?
- On August 25, 2026, ACME Solar disclosed it had won a bid in SECI’s FDRE-IX tender for 1,500 MW assured peak power. The company secured 300 MW at a tariff of Rs. 6.00/kWh, with 1,200 MWh supply committed for four hours daily.
- What does ACME Solar Hold. say comes next?
- | Filing date | Metric | Figure | Source document | |-------------|--------|--------|-----------------| | July 29, 2026 | Q1 FY27 consolidated revenue | ₹954 Cr (+63% YoY) | Earnings call transcript (Aug 4, 2026) | | July 29, 2026 | Q1 FY27 EBITDA | ₹831 Cr (+56% YoY) | Earnings call transcript | | July 29, 2026 | Q1 FY27 PAT | ₹235 Cr (+80% YoY) | Earnings call transcript | | Oct 19, 2026 | Total operational BESS | 4.96 GWh | Oct 1, 2026 filing | | Aug 4, 2026 | BESS guidance (revised) | >10 GWh by FY27 | Earnings call transcript | | Aug 4, 2026 | Capex guidance FY27 | ₹15,000-20,000 Cr | Earnings call transcript |
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