ACME Hybrid Urja, a subsidiary of ACME Solar, has received Rs 31.84 billion from REC Ltd to build a 280 MW firm and dispatchable renewable energy (FDRE) project. The construction will be carried out with NHPC. REC is the sole financier for the project, with the tenure of the financing being 18 years. 

This is the third time REC has financed an ACME Solar FDRE project, the first two times being earlier projects which have a combined capacity of 570 MW. Under the contract, ACME will provide NHPC with power at a tariff of Rs 4.64/kWh for the next 25 years. The power will be generated from multiple renewable energy technologies such as solar and battery energy storage systems. The project is designed to meet a minimum annual capacity utilization factor (CUF) of 40% and a monthly peak hours availability of 90%.