ACME Solar Soars 5% After Signing Major 250 MW Renewable Energy Deal with NHPC

Gurugram, January 30, 2026 – Shares of ACME Solar Holdings Ltd (NSE: ACMSOLAR) surged nearly 5% in morning trade today, reaching an intraday high of ₹225.89, following a significant corporate announcement that has energized investor sentiment.

The renewable energy major revealed it has signed a landmark 25-year Power Purchase Agreement (PPA) with state-owned hydro power giant NHPC Limited for a 250 MW Firm and Dispatchable Renewable Energy (FDRE) project. The announcement, made via a press release to the stock exchanges, has been viewed as a strong validation of ACME Solar’s project execution capabilities and growth trajectory.

The Deal That Sparked the Rally

The agreement, signed on January 29 through ACME Solar’s subsidiary, ACME Urja One Private Limited, is part of NHPC’s Tranche-VI initiative. Key highlights that have impressed the market include:

• Long-Term Revenue Visibility: A 25-year PPA with a AAA-rated central government enterprise provides a stable, long-term revenue stream.
• High Performance Commitment: The project comes with a guaranteed minimum annual Capacity Utilisation Factor (CUF) of 40% and an obligation to supply 90% of peak power for four hours daily, underscoring its “firm and dispatchable” nature—a premium segment in renewable energy.
• Advanced Stage: The company noted that connectivity approvals for the Interstate Transmission System (ISTS) are already secured, and nearly 40% of the required land has been acquired, de-risking the project timeline.

ACME Solar plans to develop this project with a capital expenditure of approximately ₹3,700 crore and expects it to achieve an operational CUF of over 60%, which is considered robust for renewable projects.

A Growing Powerhouse in Renewables

This new PPA substantially expands ACME Solar’s secured portfolio. The company announced that its total PPA-signed capacity now stands at an impressive 5,630 MW, complemented by a firm pipeline of 2,140 MW where letters of award (LOAs) are either in hand or awaited.

This positions ACME Solar as one of the leading integrated players in the sector, with a diversified portfolio across solar, wind, storage, and hybrid solutions. The company boasts an in-house EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) division, allowing it to control costs and ensure high operational efficiency—a factor often cited by analysts for its industry-leading margins.

Market Reaction and Outlook

The market’s reaction was swift and positive. The stock jumped from the day’s open of ₹214.33 to touch a high of ₹225.89, trading at ₹224.50 with a gain of 4.75% at the time of reporting. This surge contributed to the company’s market capitalization holding steady above ₹13,500 crore.

Investors appear to be rewarding the company for not just securing a large contract, but for doing so with a creditworthy counterparty like NHPC, which mitigates offtake risk. The deal also reinforces the strong demand for FDRE projects as India seeks to balance its grid with reliable renewable power.

“Signing a 25-year PPA with a central PSU is a strong positive,” commented a market analyst tracking the energy sector. “It adds high-quality assets to ACME’s portfolio and demonstrates its ability to win and execute large, complex projects in a competitive landscape. The market is also recognizing the value of their integrated business model.”

With this deal, ACME Solar reinforces its position in the fast-growing renewable energy space. As the company fast-tracks construction on this and other projects, all eyes will be on its execution to convert this promising pipeline into revenue and power for India’s green transition.

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