India's ACME Solar Secures INR 264.664 Billion Financing for 450MW/1800MWh Project

en.Wedoany.com Reported - ACME Solar has secured long-term project financing of INR 264.664 billion from REC Limited for the development of its 450 MW/1800 MWh Firm and Dispatchable Renewable Energy (FDRE) project. REC Limited, as the sole lender, has provided funding with a 20-year tenure to support the construction and implementation of the project.

The project is being developed by ACME Greentech Seventh and is backed by a 25-year Power Purchase Agreement (PPA) signed with SJVN Limited. Under the agreement, the electricity generated from the project will be supplied at a tariff of INR 6.74 per unit.

The FDRE project integrates multiple renewable energy technologies, including solar and battery energy storage systems (BESS). This combination enhances the predictability and dispatchability of renewable energy generation, enabling more effective fulfillment of peak electricity demand and ensuring the reliability of power supply.

ACME Solar Holdings Limited is one of India's leading integrated renewable energy companies, with a portfolio encompassing solar, wind, hybrid, energy storage, and FDRE projects. The company currently has a total installed capacity of 8,070 MW, of which 2,990 MW is under operational contracts, while another 5,080 MW of contracted capacity is under construction, supported by approximately 18 GWh of BESS equipment, reflecting its ongoing expansion in renewable energy and energy storage infrastructure.