Acme Solar Holdings Ltd has bagged ₹1,571 crore in long-term project financing from India Infrastructure Finance Co. Ltd (IIFCL) to build and develop its 300 MW assured peak power project in Rajasthan.
IIFCL acted as the sole lender for Acme Renewtech Sixth 300 MW offering financing at a competitive rate of interest which marked its first sole greenfield finance to ACME. the time period for loan repayment is 19 years.
With the latest financing, Acme solar has acquired a total of ₹10,976 crore in project funding for the current financial year.
The Rajasthan Project is supported by a 25-year power purchase agreement (PPA) with SECI Ltd at a tariff of INR 6.28/kWh. The project integrates several renewable energy technologies such as battery energy storage system (BESS) and solar to fulfill supply requirements under its PPA allowing higher predictability and dispatchability. The project includes a total capex of ₹2,123 crore and creates part of ACME Solar’s broader battery-storage capital deployment programme for the current financial year.
As per a statement by the Acme Solar, the project has Pooling Substation, operational grid connectivity and specialised transmission line in advanced stages of completion, and land for the site substantially secured, positioning it for timely construction. The plant is expected to integrate 1,350 MWh BESS paired with solar generation, supporting assured peak power supply under its PPA.
