ACME Solar Holdings Limited issued a clarification on Tuesday regarding a news item published in the Economic Times about Madhya Pradesh securing a record-low tariff for a solar-plus-storage project. The company confirmed its participation in the competitive bidding process conducted by Rewa Ultra Mega Solar Limited (RUMSL) for developing a solar power project with battery energy storage system (BESS) at Morena Solar Park.
ACME Solar was declared the lowest (L1) bidder in the e-reverse auction held on September 19, 2025. However, the company clarified that it has not yet received the formal Letter of Award (LoA) from RUMSL. The LoA, once issued, will serve as the first formal confirmation of the award, subject to conditions to be fulfilled before execution of project agreements such as the power purchase agreement .
The company added that participation in bidding processes and being declared successful bidders is part of its ordinary course of business. It further noted that acceptance of the LoA will be the right stage to issue a press release and voluntary disclosure to the stock exchanges.
ACME Solar also confirmed that it is not aware of any undisclosed information that could explain recent movements in its share price or trading volume, and that the news item has no material impact on its financials or operations .
