ACME Solar Holdings has secured funding of an estimated 3,405 INR-Crore from Power Finance Corporation (PFC) for its 250 MW renewable energy project. The funding will support the development and construction of the ACME Urja One (Phase-III) project. The project spans Fategarh-II in Jaisalmer, Rajasthan, and Akhmakhamblaiya in Devbhumi Dwarka, Gujarat. PFC is the sole lender for the project, with a repayment tenure of 19 years.
The 250 MW project combines multiple renewable energy technologies. It integrates solar generation with battery energy storage systems (BESS) to meet supply obligations. The project is designed as a firm and dispatchable renewable energy (FDRE) facility. Furthermore, ACME Solar has signed a 25-year power purchase agreement (PPA) with NHPC Ltd at a tariff of 4.33 INR per unit. The company expects to commission the project next year.
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The ACME Solar PFC funding marks a key financing milestone for the company’s renewable energy portfolio. According to the company, the latest funding increases the total project financing raised during the current fiscal to 6,051 INR-Crore. Once operational, the project will strengthen renewable power generation capacity while supporting reliable energy supply through integrated battery storage.
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