ACME Solar shares edge higher as company clinches battery storage contracts with NHPC
Shares of ACME Solar Holdings Ltd rose over 1% to ₹282.37 in Friday's trade after the company announced a significant milestone in India's energy storage sector. The stock opened higher and traded in the range of ₹279.11 to ₹287.10 during the day.
The positive sentiment comes after ACME Solar signed Battery Energy Storage Purchase Agreements (BESPA) with NHPC for a total capacity of 275 MW/550 MWh, marking a key step in strengthening its green energy portfolio.
These agreements, finalized via ACME's wholly owned subsidiaries, cover two standalone Battery Energy Storage System (BESS) projects in Andhra Pradesh — a 50 MW/100 MWh system and a 225 MW/450 MWh system — secured at tariffs of ₹2,10,000/MW/month and ₹2,22,000/MW/month, respectively.
The contracts were won through an e-reverse auction held on June 24, 2025, under the Government of India's Viability Gap Funding (VGF) scheme, which offers support of up to ₹27 lakh/MWh or 30% of the project cost.
A Letter of Award (LOA) was issued on July 8, with the BESPA swiftly signed thanks to early engagement with the customer — Andhra Pradesh. Both projects are expected to be commissioned within 18 months, leveraging state-provided land and evacuation infrastructure.
These BESS projects are among the first in Andhra Pradesh and are critical to enhancing grid reliability by storing surplus renewable power during off-peak hours and supplying it during peak demand.
Notably, this marks a shift toward the 'BESS as a Service' model, ensuring predictable revenues through capacity charges and supporting scalable, sustainable energy storage solutions.
For ACME Solar, this move underlines its strategy to scale battery procurement and strengthen its role in India's renewable energy transition.
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.
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