ACME Solar Secures Rs 26,466.4 mn Funding From REC

20 Jul 2026 CW Team

ACME Solar has secured long term project funding of Rs 26,466.4 mn from REC for its ACME Greentech Seventh Assured Peak Power Project. The company will deploy the funds for development and construction of the project, and REC will serve as the sole financier for a period of 20 years. The financing package was announced by the company as part of its strategy to scale dispatchable renewable capacity.

The ACME Greentech Seventh Assured Peak Power Project comprises 450 megawatt (MW) of solar capacity and 1,800 megawatt-hour (MWh) of storage, combining multiple renewable technologies to meet supply obligations. Battery Energy Storage System (BESS) will be integrated with solar generation to enhance predictability and support peak demand. The project design emphasises assured peak power capability and aims to provide reliable energy during constrained periods.

The power purchase agreement for the project was signed with SJVN at a tariff of Rs six point seven four per unit for a period of 25 years, providing revenue certainty for long term operations. REC is identified as the sole lender and will finance the project on long tenors to align with the contractual revenue profile. The company indicated the funding will support construction milestones and commissioning schedules.

Integration of solar and storage is designed to improve dispatchability and grid stability while meeting contractual obligations to the offtaker and to reduce curtailment risks. The assured peak power model combines generation and storage to deliver predictable output during peak windows and to manage intermittency of renewable sources through scheduled dispatch. ACME Solar will proceed with procurement and construction activities under established timelines and will implement operations and maintenance planning ahead of commissioning to support reliable performance.

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