REC Extends ₹3,184 Cr Financing to ACME Solar’s 280 MW Hybrid Urja Project

ACME Solar Holdings Ltd has announced that its wholly owned subsidiary, ACME Hybrid Urja Pvt Ltd, has secured ₹3,184 crore in project financing from state-owned REC Ltd for the development of a 280 MW Firm and Dispatchable Renewable Energy (FDRE) project. REC will serve as the sole lender, providing long-term funding for 18 years.

The project, contracted with NHPC, will combine solar power and Battery Energy Storage Systems (BESS) to ensure reliable, predictable power supply. Designed to achieve a minimum annual capacity utilisation factor (CUF) of 40% and 90% peak-hour availability each month, the initiative aligns with India’s clean energy transition goals. ACME has signed a 25-year Power Purchase Agreement with NHPC at a tariff of ₹4.64 per unit.

This is REC Ltd’s third funding for ACME Solar’s FDRE projects in 2025, following earlier financings for two projects with a combined capacity of 570 MW. The new facility is expected to significantly reduce greenhouse gas emissions while supporting grid stability through hybrid renewable solutions.

ACME Solar Holdings, among India’s top 10 independent renewable energy producers, operates 2,890 MW of projects and is building over 4,080 MW of capacity, including 550 MWh of standalone BESS. The company’s portfolio spans solar, wind, hybrid, and advanced dispatchable renewable energy projects.