ACME Solar Secures INR 3,404.57 Crore PFC Funding For 250 MW FDRE Renewable Energy Project

ACME Solar Holdings Ltd has secured long-term project financing of INR 3,404.57 crore from Power Finance Corporation Limited (PFC) for its ACME Urja One Private Limited (Phase-III) 250 MW Firm and Dispatchable Renewable Energy (FDRE) project. PFC will act as the sole lender for the project, providing funding with a repayment tenure of 19 years to support its development and construction.

With this latest financial closure, ACME Solar’s total project funding raised during the current fiscal year has reached INR 6,051 crore, strengthening the company’s renewable energy expansion plans.

The power purchase agreement (PPA) for the project has been signed with NHPC Limited for a period of 25 years at a tariff of INR 4.33 per unit. The tariff has already been approved and adopted by the relevant Central and State regulatory authorities, providing long-term revenue certainty for the project.

The ACME Urja One (Phase-III) project is designed as an FDRE project, integrating multiple clean energy technologies to ensure reliable and dispatchable power supply. The project combines solar power, wind energy, and a Battery Energy Storage System (BESS), enabling improved predictability and round-the-clock power delivery compared to standalone renewable energy projects.

The project will be developed across two locations—Fategarh-II in Jaisalmer, Rajasthan, and Jamkhambhaliya in Devbhumi Dwarka, Gujarat. According to the company, the required land and grid connectivity for the project are already in place, allowing construction activities to progress as planned.

ACME Solar stated that the development of the project is currently on schedule. The company expects the 250 MW FDRE project to be commissioned next year, adding to its growing portfolio of renewable energy assets and supporting India’s transition toward a cleaner and more reliable power system through advanced renewable energy and energy storage solutions.