FDRE project: ACME Solar wins 300 MW in SECI's assured peak power tender at Rs 6.00/kWh

Gurugram: ACME Solar Holdings Limited has won 300 MW of contracted capacity in Solar Energy Corporation of India's (SECI) latest assured peak power tender, according to a regulatory filing submitted to the stock exchanges on Tuesday. The filing said the company "has been emerged as a successful bidder in SECI's e-reverse auction for the 'Selection of RE Power Developers for assured Peak Supply of 6000 MWh (1500 MW x 4 Hrs.) from ISTS-Connected RE Projects in India, under Tariff-Based Competitive Bidding (SECI-FDRE-IX) (sic).'"

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Under the tender, the disclosure said, "the company secured 300 MW of contracted capacity at a discovered tariff of Rs 6.00/kWh and will supply 1,200 MWh (300 MW X 4) supply, during four-hour duration."

The tender falls under the firm and dispatchable renewable energy (FDRE) category, which requires developers to guarantee supply during specified peak demand windows rather than simply feed power to the grid when the sun shines or the wind blows — an obligation typically met by pairing generation with battery storage.

Land and connectivity already in place

The company told the exchanges that groundwork for the project is largely complete. "ACME already has the requisite connectivity grant and has secured a substantial portion of the land required for the project," the filing said, adding that this "development readiness is expected to significantly shorten the project execution timeline and facilitate timely commissioning."

Connectivity approvals and land aggregation are among the most common causes of delay for interstate transmission system-connected renewable projects in India.

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Storage pipeline nears 15 GWh

The win is set to expand the company's battery energy storage footprint once contracts are finalised. "Upon execution of the PPA, the project will add 1.2 GWh to ACME's battery energy storage portfolio and increase the company's PPA-signed BESS pipeline to approximately 15 GWh," the filing said.

The power purchase agreement has not yet been executed, and the disclosure did not specify a commissioning timeline, capital outlay or the identity of the eventual offtaker.

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