ACME Solar Secures SECI PPA & Bajaj Expands Subsidiary
Solar panels at a facility and a corporate office building.
Key Highlights
ACME Solar Holdings secures a strategic 300 MW SECI power purchase agreement, while Bajaj Finserv expands its corporate footprint with a new subsidiary.
Corporate strategy is shifting toward specialized growth and targeted grid integration. Two major corporate developments highlight how firms are expanding their operational footprints.
ACME Solar Secures Strategic FDRE Power Agreement
ACME Solar Holdings has signed a significant Power Procurement Agreement through its subsidiary ACME Greentech Twenty. The deal involves an assured peak supply project under the Solar Energy Corporation of India tranche.
- Contracted capacity of 300 MW with 1,200 MWh assured peak supply.
- Tariff rate established at Rs 6 per unit, effective from October 06, 2026.
- Mandatory supply of 4 MWh per MW of contracted capacity during non-solar hours.
- Monthly availability requirement maintained at a minimum of 90%.
This project integrates solar generation with Battery Energy Storage Systems while utilizing existing night-time connectivity. Following this agreement, the under-construction contracted portfolio stands at 4,310 MW out of a total 5,380 MW.
Bajaj Finserv Expands Into Reinsurance Sector
Corporate expansion is also evident in the financial sector through strategic subsidiary incorporation. Bajaj Finserv Limited has formally established a new wholly-owned corporate entity.
- Subsidiary named Bajaj Reinsurance Limited, incorporated on October 17, 2026.
- Initial share capital established at Rs 1 crore in cash consideration.
- Certificate of Incorporation issued by the Ministry of Corporate Affairs.
The establishment of this new entity follows a previous board approval and a No Objection Certificate from the Insurance Regulatory and Development Authority of India. Both developments point to active portfolio scaling across renewable energy and financial services.