ACME Solar Holdings’ wholly owned subsidiary -- ACME Sun Power has secured Rs 3,753 crore term loan financing from REC for the development & construction of a 320 MW Firm and Dispatchable Renewable Energy (FDRE) projects in collaboration with SJVN.
The project would be located at high resource potential areas at Jaisalmer, Rajasthan for solar capacity and Bhuj & Jam Khambhaliya, Gujarat for wind sites. Power Purchase Agreement (PPA) has been signed with SJVN and the grid connectivity has also been secured. The land acquisition process is in advanced stages.
REC will serve as the sole lender for this project, highlighting its confidence in ACME Solar’s project execution capabilities. Recently, another FDRE project, ACME Surya Power, has secured project financing for a 250 MW FDRE project from REC.
ACME Solar Holdings is a renewable energy company in India with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (FDRE) projects.
