ACME Solar shares down despite emerging winning bidder for 130 MW Railways RTC renewable energy tender

The stock was trading 1.37% lower at ₹234.80 apiece on the National Stock Exchange (NSE) at 10 am.

In an exchange filing, the company said that its winning bid was ₹4.35 per unit. The Letter of Award (LOA) is expected within the timelines mentioned in the tender document.

The bid is for power procurement by the end user, which is Indian Railways (IR). The IR will enter into a direct power purchase agreement, or PPA, with the winning bidders without any intermediary.

ACME Solar, as part of this winning bid, will be needed to supply renewable energy complemented with dispatchable sources and/or Energy Storage Systems from ISTS-connected projects to make sure there is firm, round-the-clock clean power, in check with the obligations laid out in the tender document.

The deal requires a minimum annual availability of 75% for the first three contractual years from commissioning and 85% thereafter. "This will necessitate a multiplier of contracted capacity of solar and battery installation with optimal amount of complementary wind power as and when required. ACME Solar will commission this project within 30 months of signing the PPA," the company said in a regulatory filing.

Last week, the company had commissioned the second phase of an additional 16 MW of its 100 MW wind power project in Gujarat's Surendranagar. With this, the project's operation capacity has reached 44 MW out of the 100 MW.

ACME Solar Q2 results

The company had reported a 652.51% increase in its consolidated profit after tax (PAT) to ₹115.06 crore in the September quarter of the current fiscal year, compared to ₹15.29 crore in the same period a year ago.

The company's revenue from operations climbed 80.18% to ₹467.74 crore in Q2 FY26 as against ₹259.59 crore in the corresponding period of the previous fiscal year.