ACME Solar Holdings has secured Rs 1,571 crore long-term project funding from India Infrastructure Finance Company (IIFCL) for the construction and development of ACME Renewtech Sixth 300 MW assured peak power project in Rajasthan. This project financing, secured at a competitive rate of interest, marks IIFCL’s first sole greenfield finance to ACME, with IIFCL acting as the sole lender for the project with a repayment tenor of 19 years. The current funding step takes the overall financing secured by the company during this fiscal to Rs 10,976 crore. The Power Purchase agreement (PPA) for this project has been executed with SECI for a period of 25 years at a tariff of Rs 6.28/unit.
ACME Greentech Seventh assured peak power project combines multiple renewable energy technologies including Solar and Battery Energy Storage System (BESS) to meet the supply obligations under its PPA ensuring higher predictability and dispatchability. The project entails a total capex of Rs 2123 crore and forms part of the company’s broader battery-storage capital deployment programme for the current financial year.
The project is progressing on a strong execution footing, with grid connectivity already operational, Pooling Substation and dedicated transmission line in advanced stages of completion and land for the site substantially secured, positioning it for timely construction. The plant will integrate 1350 MWh BESS alongside solar generation, enabling assured peak power supply under its PPA. Like the company’s other assured peak power projects, this asset is being developed entirely within Rajasthan, reinforcing the state’s growing role as a hub for the company’s hybrid renewable capacity.
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.
| Company Name | CMP |
|---|---|
| NTPC | 328.70 |
| Tata Power | 352.00 |
| Power Grid Corpn. | 264.85 |
| Adani Power | 214.90 |
| Torrent Power | 1230.85 |
| View more.. | |
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