ACME Solar Holdings has secured a Rs 47.2 billion financing from Indian financial institutions. Out of the total financing, Rs 27.1 billion has been secured from Power Finance Corporation for ACME’s 300 MW firm and dispatchable energy (FDRE) project.
The FDRE project combines renewables with four hours of battery energy storage. Furthermore, Rs 8 billion was secured from the National Bank for Financing Infrastructure Development. This financing will be used for ACME’s 150 MW solar-plus storage project. The FDRE and solar-plus storage projects have grid connectivity in place and are at advanced stages of construction.