ACME Solar Raises INR 3,404.57 Crore Project Funding for ACME Urja One 250 MW FDRE Project from PFCL

ACME Solar Holdings Ltd (ACME Solar) has secured INR 3,404.57 crore long-term project funding for its ACME Urja One Pvt Ltd (Phase – III) 250 MW FDRE project from Power Finance Corporation Limited (PFC) for the development & construction of the project. PFC will serve as the sole financer for this project with a repayment tenor of 19 years.  

The current funding milestone takes the overall project funding raised by the company during this fiscal to Rs 6,051 crores.  The PPA for this project was signed with NHPC Limited for a period of 25 years at a tariff of INR 4.33/unit. The tariff is already approved and adopted by Central and State Regulator.

The ACME Urja One (Phase-III) FDRE project combines multiple renewable energy technologies including Solar, Wind and Battery Energy Storage System (BESS) to meet the supply obligations and, ensures higher predictability and dispatchability. It spans across Fategarh-II in Jaisalmer, Rajasthan and Jamkhambhaliya in Devbhumi Dwarka, Gujarat with necessary land and connectivity already in place. The development of this project is progressing on schedule and is expected to be commissioned next year.

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 ~3.62 GWh of BESS capacity and under construction contracted capacity of 5,080 MW. The under construction PPA signed portfolio stands at 3,880 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.