ACME Solar Holdings Limited has secured Rs 34.05 billion in long-term project financing from Power Finance Corporation Limited (PFC) for its ACME Urja One Private Limited (Phase III) 250 MW firm and dispatchable renewable energy (FDRE) project. PFC will be the sole lender for the project, with a loan repayment period of 19 years.
The project integrates solar, wind and battery energy storage system technologies to provide reliable and dispatchable renewable power. It is spread across Fatehgarh-II in Jaisalmer, Rajasthan, and Jamkhambhaliya in Devbhumi Dwarka, Gujarat, where land and grid connectivity have already been secured. The project is expected to be commissioned next year. ACME Solar has signed a 25-year power purchase agreement with NHPC Limited for the project at a tariff of Rs 4.33 per unit. With this funding, the company’s total project financing raised during the current financial year has reached Rs 60.51 billion.