Gurgaon-based ACME Solar Holdings has received a letter of award (LoA) from Tata Power Company’s distribution arm, Tata Power-D, for developing a 50 MW firm and dispatchable renewable energy (FDRE) project, with a tariff of ₹4.43 (~$0.051)/kWh.

The award is a part of a larger 250 MW FDRE tender conducted by Tata Power-D.

The power purchase agreement (PPA) between ACME Solar and Tata Power-D will be valid for 25 years.

The FDRE project will integrate multiple renewable energy technologies, primarily solar power, along with a battery energy storage system (BESS). The project must maintain a minimum annual capacity utilization factor of 40%.

It must also ensure a stable power supply during peak hours, providing four hours of dispatchable electricity daily, with a 90% monthly availability requirement.

The project must be commissioned within 24 months of the PPA signing date.

The project is expected to contribute to meeting the demand for reliable renewable energy, particularly during peak load periods, using storage-backed solar generation.

ACME Solar Holdings is an integrated renewable energy company with operations spanning solar, wind, storage, FDRE, and hybrid solutions. The company has a current operational and contracted capacity of 6.97 GW.

Last November, the company was among the winners of NTPC’s auction to supply 1,200 MW of FDRE from interstate transmission system-connected renewable energy projects. It quoted ₹4.70 (~$0.0557)/kWh to win a capacity of 400 MW.

ACME emerged as one of the top utility-scale solar project developers in India for 2024, according to Mercom’s India Solar Market Leaderboard 2025.

In August this year, ACME Solar’s subsidiary, ACME Hybrid Urja, secured long-term project financing of ₹31.84 billion (~$363.72 million) from REC to develop a 280 MW FDRE project.

The company went public last year with a ₹29 billion (~$344.85 million) initial public offering (IPO). It proposed to use ₹17.95 billion (~$213.45 million) from the IPO proceeds for investment in its subsidiaries to repay certain outstanding borrowings availed by its subsidiaries and for general corporate purposes.