ACME Urja One, a wholly-owned subsidiary of ACME Solar Holdings (NSE:ACMESOLAR, BOM:544283), has executed a power purchase agreement (PPA) with SECI for its 190 MW hybrid power project with assured peak power supply, according to a Thursday filing to the Indian stock exchanges.

The project is part of a 380 MW capacity, of which PPA for the first 190 MW has already been signed.

The PPA requires supplying power with a minimum annual capacity utilization factor of 50% and an obligation to meet 80% of the peak power requirement daily. Connectivity for all the components of this project, including solar, wind, and battery storage have been secured.

Commercial operations of the project are scheduled to start on Feb. 27, with a tenure of 25 years from the date of signing of the PPA.

With this, ACME Solar's total PPA-signed portfolio has increased to 5,820 MW, with 1,240 MW of PPAs signed in the current financial year.