ACME HybridUrja

What ACME HybridUrja does

ACME Hybrid Urja Private Limited is a wholly-owned subsidiary of ACME Solar Holdings Limited, one of India's top 10 renewable energy independent power producers (IPPs). The subsidiary was established to develop, build, own, and operate hybrid and Firm and Dispatchable Renewable Energy (FDRE) projects in India, combining utility-scale solar PV, wind, and Battery Energy Storage Systems (BESS) into dispatchable power assets that deliver stable output regardless of weather conditions. Its flagship financed asset is a 280 MW FDRE project contracted under a 25-year PPA with NHPC at INR 4.46/kWh, supported by INR 3,184 crore of long-term sole-lender financing from REC Ltd (closed August 2025), with the company contributing to a combined 850 MW of REC-financed FDRE capacity in 2025.

The subsidiary operates as a project-level vehicle within ACME Solar Holdings' broader ~7.4 GW portfolio spanning 11 states, 2,918 MW operational and 4,472 MW under construction (including 13.5 MWh of standalone BESS). Revenue is generated through 25-year Power Purchase Agreements (PPAs) awarded via competitive reverse auctions to creditworthy central and state government off-takers — primarily NHPC, SECI, SJVN, NTPC, GUVNL, and MSEDCL — at tariffs ranging from INR 2.44/kWh (record low at Bhadla solar) to INR 4.46–4.64/kWh for FDRE. The company delivers dispatchable renewable energy through integration of solar, wind, and utility-scale BESS installations, achieving 99%+ plant availability and contributing to 2.9 million tonnes of CO₂ emissions reduction in FY25 at the parent level.

The go-to-market is enterprise field sales via competitive bidding in government renewable energy tenders, followed by long-term project financing from REC, PFC, SBI, and other lenders, EPC execution, and 25-year asset operation. Capital structure relies on non-recourse or limited-recourse project debt, and the parent ACME Solar Holdings listed on BSE and NSE in November 2024 to broaden equity capital access. The broader ACME Group is also expanding into upstream 1.2 GW solar PV module manufacturing in Jaipur (under MKU Holdings) and downstream green hydrogen and green ammonia projects in Oman (with Yara offtake) and Odisha, positioning ACME Hybrid Urja within a vertically-integrated clean energy platform.

Name

ACME HybridUrja

Legal name

ACME Hybrid Urja Private Limited

Website

https://acmesolar.in

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

251–500 employees

Short description

ACME Hybrid Urja is a wholly-owned subsidiary of ACME Solar Holdings Limited that develops, owns, and operates utility-scale hybrid and Firm and Dispatchable Renewable Energy (FDRE) projects in India, selling power to central and state government off-takers under 25-year PPAs.

Ownership category

akta.pro rank

Product category

Independent Power Production / Renewable Energy

NAICS

Electric Power Generation, Transmission and Distribution (2211), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115)

SIC

Electric Services (4911)

akta.pro primary industry

Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)

akta.pro secondary industries

Utility-Scale BESS EPC & Integration (EUAEAEAA), Grid Interconnection & Collector Substation EPC (Utility-Scale Renewables) (EUAEABAK), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK)

Keywords

• Firm dispatchable renewable energy
• Utility-scale solar projects
• Battery energy storage systems
• Renewable power purchase agreements
• Independent power production

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D

Revenue model

1. Power Generation and Sale: ACME Hybrid Urja develops, builds, owns, and operates large-scale renewable energy projects (solar, wind, hybrid, FDRE) that generate clean electricity sold under long-term Power Purchase Agreements (PPAs) to government off-takers. Revenue is generated through capacity charges and energy delivery over 25-year contract terms at agreed tariff rates.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

ACME Hybrid Urja develops, builds, owns, and operates utility-scale Firm and Dispatchable Renewable Energy (FDRE) projects in India, combining solar, wind, and Battery Energy Storage Systems (BESS) to deliver stable, dispatchable clean electricity under 25-year Power Purchase Agreements with government off-takers. The company's flagship project is a 280 MW FDRE installation contracted with NHPC at a tariff of INR 4.46/kWh, financed by REC Ltd as sole lender.

Product overview

ACME Solar Holdings Limited is one of India's leading renewable energy Independent Power Producers (IPPs) managing a ~7.4 GW portfolio. The company operates a platform-based model offering four main product lines: Solar Power Projects (3,140-3,440 MW), Hybrid/FDRE Projects combining solar, wind and BESS (~3,480 MW with ~15 GWh storage), Wind Power Projects (150 MW), and Standalone BESS solutions. The flagship 1200 MW ISTS project represents the largest single-site solar installation. The company has expanded into upstream manufacturing with a 1.2 GW solar PV module facility in Jaipur and is pioneering Green Hydrogen and Green Ammonia projects in Oman and India. ACME Hybrid Urja is a wholly-owned subsidiary focused on hybrid and FDRE project development, having secured ₹3,184 crore financing from REC Ltd for a 280 MW FDRE project with NHPC.

Differentiator

Problem solved

Functional benefit

Products and services

• 280 MW Firm and Dispatchable Renewable Energy (FDRE) Project with NHPC Utility-scale Firm and Dispatchable Renewable Energy project combining solar, wind, and BESS, contracted with NHPC under a 25-year Power Purchase Agreement at INR 4.46/kWh, delivering reliable dispatchable renewable power to a central government off-taker.
• Hybrid / FDRE Renewable Energy Projects Combined solar, wind and Battery Energy Storage System (BESS) projects providing stable, uninterrupted power generation under long-term PPAs with central and state government off-takers. ACME Hybrid Urja is the dedicated subsidiary for developing these hybrid and FDRE projects within the ACME Solar portfolio of approximately 3,480 MW with ~15 GWh of BESS capacity.
• Battery Energy Storage System (BESS) Installations Utility-scale BESS projects providing energy storage and dispatchability capabilities integrated with renewable generation assets. Standalone BESS capacity of 13.5 MWh across multiple projects in Rajasthan, including 250 MW/1103 MWh, 285 MW/601 MWh, and 300 MW/1409 MWh installations under construction.

Quantifiable outcome

• 2.9 million tonnes CO2 emissions reduced in FY25
• +3 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• YaraflagshipStrategic or Co-development Partner · 5 June 2025Yara International has a first offtake agreement for 100 KTPA (kilotonnes per annum) of green ammonia from ACME Cleantech Solutions' project in Duqm, Oman. This represents ACME's pioneering green hydrogen and green ammonia initiative.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• NTPC Green Energy: State-owned renewable arm of NTPC and a counterparty on some of ACME's PPAs; also a competitor in tenders. Comparable as a large, government-backed renewable IPP with utility-scale solar, wind, and emerging storage projects across India.
• SJVN Limited: Central public-sector power developer that has awarded multiple FDRE contracts to ACME (e.g., 450 MW SJVN FDRE-IV). Comparable as a government-affiliated renewable developer and counterparty in the same FDRE bidding ecosystem.
• NHPC Limited: Central government hydro and renewable power generator. Both a key off-taker (280 MW NHPC PPA) and a developer of utility-scale renewable projects in India — comparable as a state-affiliated power producer with FDRE ambitions.

Emerging players

• Waaree Energies: India's largest solar PV module manufacturer with growing IPP and EPC capabilities. Comparable to ACME's 1.2 GW Jaipur module manufacturing strategy and vertical integration into project development within the Indian solar value chain.
• Suzlon Energy: India's largest domestic wind turbine manufacturer and operator of utility-scale wind farms. Comparable to ACME's wind segment (150 MW GUVNL project) and as a domestic renewable energy ecosystem player, though more OEM-focused than pure IPP.

Direct peers

• ReNew Energy Global: One of India's largest renewable IPPs by capacity with a significant solar and wind portfolio plus emerging FDRE/storage projects. Directly comparable as a utility-scale IPP competing for SECI, NHPC, and SJVN tenders with long-term PPAs.
• Adani Green Energy: India's largest renewable IPP with a multi-GW operational and under-construction portfolio spanning solar, wind, and hybrid projects. Directly comparable to ACME Hybrid Urja as a utility-scale solar/wind/FDRE developer competing for the same government tenders and long-term PPAs.
• JSW Energy: Indian power producer expanding aggressively into renewables with utility-scale solar, wind, and hybrid projects. Directly comparable to ACME Hybrid Urja as a competing IPP in India's reverse-auction market and a bidder on similar central tenders.
• Greenko Group: India's leading energy storage and renewable IPP with a strong pumped-storage and BESS portfolio alongside solar and wind. Highly comparable to ACME Hybrid Urja's FDRE strategy of combining solar, wind, and storage for dispatchable supply.
• Tata Power Renewable Energy: Renewable energy arm of Tata Power, one of India's largest solar and wind IPP portfolios. Competes with ACME Hybrid Urja for central and state utility PPAs and has similar hybrid/solar plus storage project pipelines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/AcmeSolar67918
• Facebookfacebook.com/people/ACME-Solar/61559770724508
• LinkedInlinkedin.com/company/acme-solar-in

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ACME HybridUrja