ACME Solar has secured long-term project financing of INR 2,646.64 crore from REC Limited for the development of its 450 MW/1,800 MWh Firm and Dispatchable Renewable Energy (FDRE) project. The funding will support the construction and implementation of the project, with REC Limited acting as the sole lender for a period of 20 years.
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, 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 power and a Battery Energy Storage System (BESS). This combination is designed to ensure a reliable supply of electricity by improving the predictability and dispatchability of renewable energy generation, helping meet peak power demand more effectively.
ACME Solar Holdings Limited is one of India’s leading integrated renewable energy companies with a diversified portfolio covering solar, wind, hybrid, storage, and FDRE projects. The company currently has a total portfolio of 8,070 MW, including 2,990 MW of operational contracted capacity. It also has 5,080 MW of contracted capacity under construction, supported by approximately 18 GWh of BESS installations, reflecting its continued expansion in renewable energy and energy storage infrastructure.
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