ACME Solar signs PPA with NHPC for 250 MW project in Rajasthan
ACME Solar Holdings Limited has signed a significant Power Purchase Agreement (PPA) with NHPC Limited for a 250 MW Firm and Dispatchable Renewable Energy (FDRE) project in Rajasthan. The agreement spans 25 years and has been secured at a tariff of ₹4.56 per kWh, with a minimum annual Capacity Utilization Factor (CUF) of 40% and a commitment to meet 90% of peak power demand for 4 hours each day.
The project is designed to leverage a hybrid energy mix comprising solar, wind, and battery storage, and will be connected to an ISTS substation with existing connectivity. This development reinforces ACME Solar's strategic role in India's clean energy transition.
With this addition, ACME Solar's PPA-signed capacity now stands at 5,130 MW, of which 2,826.2 MW is operational. The company also has a confirmed project pipeline of 1,840 MW for which Letters of Award have been received. Notably, 86% of its offtake agreements are with central government entities.
The project has already received regulatory clearance from the Central Electricity Regulatory Commission (CERC), enhancing its implementation timeline certainty.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
a day ago
- Business Upturn
Kotak Mahindra Bank Q1 results: Net profit down 47% YoY to Rs 3,282 crore, GNPA at 1.48% vs 1.39% QoQ
Kotak Mahindra Bank reported a 47.5% year-on-year (YoY) decline in net profit for the quarter ended June 30, 2025, with Q1 FY26 profit standing at Rs 3,281.68 crore compared to Rs 6,249.82 crore in Q1 FY25. The sharp fall is primarily due to the absence of exceptional gains booked in the same quarter last year. Net Interest Income (NII) grew 6% YoY to Rs 7,259 crore from Rs 6,843 crore, reflecting steady growth in lending and core banking operations. Total income rose to Rs 16,916 crore from Rs 15,675 crore YoY. Operating profit (before provisions) rose to Rs 5,563.69 crore from Rs 5,254.11 crore in the previous year. Provisions and contingencies, however, jumped to Rs 1,207.76 crore from Rs 578.48 crore YoY, impacting the bank's profitability. Asset quality weakened slightly: Gross NPA: Rs 6,637.70 crore (1.48%) vs Rs 5,477.15 crore (1.39%) QoQ Net NPA: Rs 1,530.93 crore (0.34%) vs Rs 1,376.33 crore (0.35%) QoQ Despite steady growth in core income, the YoY profit decline was driven by the high base effect of last year's Rs 3,519.90 crore exceptional gain. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
2 days ago
- Business Upturn
J&K Bank Q1 results: Net profit up 17% YoY to Rs 485 crore, NII grows 7%
Jammu & Kashmir Bank reported its #Q1Results with a strong performance in profitability and stable asset quality. The bank posted a net profit of Rs 484.84 crore for the April–June quarter of FY26, marking a 16.7% year-on-year increase from Rs 415.49 crore in Q1 FY25. The improvement came despite a one-time impairment provision of Rs 87 crore related to its investment in J&K Grameen Bank post-amalgamation. Without this impact, YoY profit growth would have exceeded 30%, the bank noted. Net interest income (NII) rose 7% to Rs 1,465 crore from Rs 1,369 crore, while other income jumped 29% to Rs 250 crore. Operating profit also saw a 13% rise, coming in at Rs 673 crore. Gross NPA improved to 3.50% YoY (though slightly up sequentially from 3.37%), while Net NPA remained stable at 0.82%. The NPA Coverage Ratio remained strong at above 90%. The bank's deposits grew 12% YoY to Rs 1.49 lakh crore, and net advances rose 6% to Rs 1.01 lakh crore. CASA ratio stood at 45.71%, while Return on Assets (RoA) improved to 1.17%. Capital Adequacy Ratio (CAR) was reported at 15.98%, giving the bank a strong buffer for future growth. MD & CEO Amitava Chatterjee stated the bank is witnessing improving ground conditions and remains focused on expanding Rest of India operations and digital capabilities. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
2 days ago
- Business Upturn
SAIL Q1 Results: Net profit surges over 800% YoY to Rs 744.58 crore, Revenue up 8% to Rs 25,921
Steel Authority of India Limited (SAIL) reported a sharp turnaround in its financial performance for the quarter ended June 30, 2025. The company posted a consolidated net profit of Rs 744.58 crore in Q1 FY26, a staggering 810% increase compared to Rs 81.78 crore in the same quarter last year. Revenue from operations for the quarter rose 8% year-on-year to Rs 25,921.76 crore, up from Rs 23,997.81 crore in Q1 FY25. Including other income, total income stood at Rs 26,083.90 crore. SAIL's expenses were reported at Rs 25,189.96 crore for the quarter, marginally higher than Rs 23,871.60 crore in the corresponding period last year. Profit before tax came in at Rs 967.81 crore versus Rs 98.09 crore YoY. The improvement in profitability was driven by better inventory efficiency, a fall in material costs, and higher sales volumes. Share of profit in investments accounted using the equity method stood at Rs 73.10 crore for Q1 FY26. The company's PAT also improved sequentially, although it was lower than Q4 FY25's Rs 1,250.90 crore due to higher tax outgo and depreciation costs. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
