ACME Solar project funding has received a major boost after ACME Solar Holdings Ltd. secured Rs 1,571 crore in long-term financing from India Infrastructure Finance Company Ltd. (IIFCL). The funding will support the construction and development of the company’s 300 MW assured peak power project in Rajasthan.
The financing has been secured at a competitive interest rate, with IIFCL acting as the sole lender. The project has a 19-year repayment tenor. This latest facility takes ACME Solar’s total financing secured during the current financial year to Rs 10,976 crore.
ACME Solar Project Funding Supports 300 MW Renewable Project
The project has a 25-year Power Purchase Agreement (PPA) with SECI Limited at a tariff of ₹6.28 per unit. It will combine solar generation with battery energy storage systems (BESS) to provide more predictable and dispatchable renewable power.
The project has an estimated capital expenditure of Rs 2,123 crore. It is part of ACME Solar’s broader battery-storage investment programme for the current financial year.
Project Uses 1,350 MWh Battery Storage System
The Rajasthan project will integrate a 1,350 MWh BESS with solar generation. This storage capacity will support assured peak power delivery under the PPA.
The project is also making progress on key infrastructure. Grid connectivity is already operational, while the pooling substation and dedicated transmission line are at an advanced stage of completion. A substantial portion of the required land has also been secured.
ACME Solar Project Funding Strengthens Renewable Capacity
The project is being developed entirely in Rajasthan, further strengthening the state’s position as a key location for ACME Solar’s hybrid renewable energy projects. The company is expanding its portfolio across solar, wind, energy storage, firm and dispatchable renewable energy (FDRE), and hybrid solutions.
ACME Solar has a diversified portfolio of 8,370 MW, including 2,990 MW of operational contracted capacity and around 3.62 GWh of BESS capacity. Its under-construction contracted capacity stands at 5,380 MW.
Source: PSU Connect
