ACME Solar Raises INR 2,646.64 Crore Project Funding for 450MW/1800MWh FDRE Project from REC Ltd

ACME Solar has secured Rs 2,646.64 crore long-term project funding for its ACME Greentech Seventh 450MW/1800MWh Assured Peak Power Project from REC Ltd.

The company will deploy these funds for the development & construction of this project. REC Ltd will serve as the sole financer for this project for 20 years. The PPA for this project was signed with SJVN Limited at a tariff of INR 6.74/unit for a period of 25 years.

The 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 and, ensures higher predictability and dispatchability.

ACME Solar Holdings Limited is a leading integrated renewable energy player with a diversified portfolio of 8,070 MW spanning solar, wind, storage, FDRE and hybrid solutions and an operational contracted capacity of 2,990 MW and ~3.3 GWh of BESS capacity and under-construction contracted capacity of 5,080 MW including ~18 GWh of BESS installation. The under-construction PPA-signed portfolio stands at 3,580 MW. With an in-house EPC and O&M division, the company does end-to-end development and O&M of the plants, thereby delivering projects in a time & cost-effective manner while ensuring best-in-class operating performance, evident in its industry-leading CUF and operating margins.