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ACME Solar Holdings has secured financing of INR 3,404.57 crore from Power Finance Corporation (PFC) for the development of its 250 MW Firm and Dispatchable Renewable Energy (FDRE) project across Rajasthan and Gujarat. The project, being developed under ACME Urja One (Phase III), combines solar, wind and battery energy storage system (BESS) technologies to deliver reliable renewable power. PFC will act as the sole lender with a 19-year repayment tenure, while the electricity generated will be supplied to NHPC Ltd under a 25-year power purchase agreement at a tariff of INR 4.33 per unit. The project is scheduled for commissioning next year.
ACME Solar Holdings has secured financing of INR 3,404.57 crore from Power Finance Corporation (PFC) for its 250 MW Firm and Dispatchable Renewable Energy (FDRE) project, strengthening the company's funding pipeline for utility-scale renewable energy developments.
The financing will support the development and construction of the ACME Urja One (Phase III) project, which is spread across the Fatehgarh-II region in Jaisalmer, Rajasthan, and Jamkhambhaliya in Devbhumi Dwarka, Gujarat. According to the company, the project is expected to be commissioned next year.
Power Finance Corporation will serve as the sole lender for the project, with the financing structured over a repayment tenure of 19 years.
The FDRE project integrates multiple renewable energy technologies, including solar power, wind energy and a battery energy storage system (BESS), enabling the project to deliver firm and dispatchable electricity. By combining these technologies, the project is designed to improve the predictability and reliability of renewable power supply while meeting scheduled delivery obligations.
The electricity generated from the project will be supplied under a 25-year power purchase agreement signed with NHPC Ltd. The agreement has been executed at a tariff of INR 4.33 per unit, providing long-term revenue visibility for the project.
ACME Solar stated that the latest financing takes its total project funding secured during the current financial year to INR 6,051 crore. The company has continued to expand its renewable energy portfolio through investments in integrated projects that combine generation and energy storage to support grid stability and round-the-clock power supply.
The financing underscores continued institutional support for large-scale renewable energy projects as developers increasingly adopt hybrid generation and storage technologies to meet evolving power procurement requirements. The project also aligns with India's ongoing efforts to expand renewable energy capacity while improving the reliability and dispatchability of clean power through integrated energy solutions.
Source - PTI
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