Acme Solar connects 1023 MW solar projects to the ISTS grid in Rajasthan

Acme Solar Holdings Limited has completed the commissioning of 1023 MW solar projects in Rajasthan, marking a milestone in India's energy transition while reducing annual CO2 emissions by 2.6 million tonnes.

Share:

Acme Solar Holdings Limited has announced the commissioning of four solar projects connected to the inter-state transmission system (ISTS) in Jaisalmer, Rajasthan. These projects total a capacity of 1,023 MW (1,483 MWp), reinforcing India’s ambitions in renewable energy transition.

The installations, located at a single site, constitute one of the largest solar projects of 2024. With an estimated annual production of 3,000 million units (MUs) of clean electricity, they contribute significantly to the national goal of reducing greenhouse gas (GHG) emissions.

Financing and regulatory framework

The projects were financed by the Power Finance Corporation (PFC) and the Rural Electrification Corporation (REC), two major public entities specializing in the energy sector. The electricity produced is sold to the Solar Energy Corporation of India (SECI) under a 25-year power purchase agreement (PPA) at a fixed tariff of Rs 2.44 per unit.

The regulatory framework supporting these projects reflects the central government’s commitment to encouraging private investment in the renewable energy sector. By guaranteeing competitive tariffs and robust partnerships, India positions itself as a global leader in deploying sustainable energy solutions.

Strategic benefits and optimized performance

The solar installations are located in a region with high solar irradiance, maximizing energy production. The use of shared infrastructure for power evacuation has enabled cost optimization and improved energy yields.

The project also represents a model of public-private partnership, demonstrating how collaboration between private investors and public institutions can accelerate the development of energy infrastructure.

Outlook for the renewable energy sector

This project aligns with broader efforts to expand solar capacity in India. With a total operational capacity of 2,540 MW (3,578 MWp), the company significantly contributes to the national target of 450 GW of renewable energy by 2030.

Future initiatives aim to strengthen solar and hybrid infrastructures while leveraging existing agreements with central authorities. Such investments in Rajasthan could serve as a blueprint for other regions looking to balance economic growth with sustainability.

The latest report from the International Renewable Energy Agency confirms the cost superiority of renewables, but highlights persistent challenges for grid integration and access to financing in emerging markets.
EDP Renewables North America and California Water Service have entered into a 20-year agreement to supply solar energy to a strategic Bakersfield site, reducing grid energy costs by about $1.7mn over the contract duration.
Solar growth in the European Union is seeing its first annual contraction in ten years, following reduced subsidies and shifting budget priorities in several member states.
Scatec secures the development of a 846 MW photovoltaic cluster in the Free State province, with an investment of ZAR13bn ($735mn), following the seventh round of South Africa's REIPPPP programme.
Enbridge invests $0.9bn in a 600 MW solar facility in Texas, fully dedicated to powering Meta Platforms, Inc.'s data centres through a long-term power purchase agreement.
ENGIE has announced the acquisition of 22 distributed solar projects in Pennsylvania, further strengthening its renewable energy expansion strategy while supporting the local economy and enhancing the reliability of the distribution grid.
Estuary Power commissions the Escape Solar and Storage project in Nevada, integrating 185 megawatts of solar capacity and securing enhanced financing from institutional investors to supply electricity to several major players in the leisure sector.
New anti-dumping tariffs and Foreign Entity of Concern (FEOC) restrictions are disrupting the US solar supply chain, while ongoing dependence on China exposes the industry to significant risks, according to Wood Mackenzie.
Sri Lanka and the International Solar Alliance (ISA) have signed a strategic partnership to accelerate solar energy deployment in the country, aiming for 70% renewable energy by 2030.
Sunrun announced the pricing of its $431 million securitization, involving leases and power purchase agreements. This marks the company’s 14th public securitization and its third of 2025.
Resalta has completed the acquisition of Statkraft’s Croatian platform, expanding its presence in renewable energy across Eastern Europe, with a portfolio of projects and a full local team.
Gaia Renewables 1 has acquired a 10% stake in two solar power plants in the Northern Cape, following regulatory approval and financial close, strengthening its portfolio of independent assets.
Dutch firm Gutami Holding has signed a 25-year agreement with Burkina Faso and national utility SONABEL for a 150 MW solar project with 50 MW storage, valued at over €100mn ($109mn).
SOFAZ acquires 49% of a 14-plant solar portfolio held by Enfinity Global in Lazio and Emilia-Romagna, reinforcing its long-term stable investment strategy.
Entech spent €1.4mn to acquire a portfolio of photovoltaic projects under development across southern and central France, marking a first move in its external growth strategy following a recent capital increase.
A guarantee operation orchestrated by the World Bank targets the expansion of distributed energy solutions across nearly twenty African markets, involving a project portfolio led by CrossBoundary Energy and a financial collaboration with Standard Bank South Africa.
Facing chronic power outages, South African households are increasingly turning to solar self-generation, jeopardizing Eskom's pricing model and widening energy-access inequalities between affluent neighborhoods and disadvantaged areas.
Sol Systems has secured a $675mn credit facility to accelerate the development of 500 MW of solar and storage projects in Illinois, Ohio and Texas, backed by an international banking consortium.
The rapid rise of solar energy is disrupting Pakistan’s electricity sector, forcing the government to revise its tariff policy and introduce new taxes on solar panel imports.
Sabanci Renewables announces the acquisition of the Texan solar project Pepper from OCI Energy, strengthening its US portfolio to 660 MW and paving the way for an increase to 3 GW by 2030.