The growth of India's short-term electricity market reflects this shift. While overall electricity supplied grew by only 0.9% in FY26, short-term market transactions expanded by 16.8%, reaching 302 BU
The transaction is understood to have reached an in-principle agreement, with signing expected shortly
The capacity has been commissioned through ACME Greentech Seventh Private Limited, a wholly owned subsidiary of ACME Solar
The solar facility, estimated to require an investment of around Rs 450 crore, will be developed at Jaulan in Uttar Pradesh and is targeted for commissioning within 24 months
Under the PPA, the project is required to provide four hours of peak-hour power with 90 per cent monthly availability, along with meeting a minimum annual capacity utilisation factor
IIFCL will be the sole lender for the project, with the financing carrying a repayment tenor of 19 years
The 435 MWp project is among the larger solar projects being developed in Uttar Pradesh and will add renewable power generation capacity to the state
The project is being developed by KPI Green Energy under the IPP model and is backed by a long-term power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL)
