Subsidiary executes PPA with SECI for 300 MW assured peak power project
ACME Greentech Twenty Private Limited, a wholly owned subsidiary, has executed a Power Purchase Agreement (PPA) with SECI Limited.
By ScoutQuest · · 1 min read
- Contract Capacity
- 300 MW assured Peak Power project under FDRE Tranche IX
- Tariff
- Rs. 6.00 per unit
- Supply Commencement & Tenure
- Scheduled Commencement of Supply Date 06.04.2028; project tenure of 25 years
What was announced
- ACME Greentech Twenty Private Limited, a wholly owned subsidiary of ACME Solar Holdings Limited, has executed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI Limited).
- The PPA is for an assured Peak Power project for a contract capacity of 300 MW under FDRE Tranche IX.
- The update states this is a voluntary disclosure.
Key terms as disclosed
- Contract capacity: 300 MW
- Tariff: Rs. 6.00 per unit
- Scheduled Commencement of Supply Date (SCSD): 06.04.2028
- Project tenure: 25 years from the date of SCSD
- Nature of contract: Power Purchase Agreement
- Awarding entity: SECI Limited, a domestic entity
How to read this
A Power Purchase Agreement is a long-term contract naming the buyer, the contracted capacity and the price at which power will be sold. Here, the buyer is SECI Limited, the contracted capacity is 300 MW, and the disclosed tariff is Rs. 6.00 per unit.
- The agreement has been executed by ACME Greentech Twenty Private Limited, a wholly owned subsidiary, so the project sits within the group through that subsidiary.
- Supply is scheduled to commence on 06.04.2028, and the project tenure runs for 25 years from that date.
Other points stated in the update
- The order has been awarded by a domestic entity.
- The promoter, promoter group and group companies have no interest in the entity that awarded the contract.
- The contract does not fall within related party transactions.
What to keep in mind
- The disclosure gives the contracted capacity, the tariff and the tenure, which are the terms against which the project's execution and timelines can be tracked.
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More numbers
- Contract capacity of the project300 MW
- TariffRs. 6.00 per unit
- Project tenure25 years
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