+
ACME Solar Secures Rs 34.05 bn PFC Loan for 250 MW FDRE Project
POWER & RENEWABLE ENERGY

ACME Solar Secures Rs 34.05 bn PFC Loan for 250 MW FDRE Project

ACME Solar Holdings on Wednesday said it secured Rs 34.05 billion (bn) in long-term project financing from Power Finance Corporation (PFC) for its 250 megawatt (MW) firm and dispatchable renewable energy project, strengthening its funding pipeline for under-construction renewable energy assets. PFC will be the sole lender and the loan carries a 19-year repayment tenure, the company said. The financing brings ACME Solar's total project funding raised in the current financial year to Rs 60.51 bn.

The project, developed by ACME Urja One(Phase III), will combine solar, wind and battery energy storage systems to deliver firm and dispatchable renewable power and is spread across Jaisalmer in Rajasthan and Devbhumi Dwarka in Gujarat where land and grid connectivity are already in place. The project is scheduled to be commissioned next year and has a 25-year power purchase agreement with NHPC at a tariff of Rs four point three three per unit, which has regulatory approval. It is designed to improve the predictability and dispatchability of renewable power by integrating multiple clean energy technologies with battery storage.

The latest funding follows a Rs 26.47 bn project loan secured from REC less than two weeks earlier for a 450 MW and 1,800 MWh assured peak power project and underscores ACME Solar's aggressive capital raising to fund an expanding renewable pipeline. The company currently has a diversified renewable portfolio totalling 8,070 MW across solar, wind, hybrid, storage and firm and dispatchable projects, with 2,990 MW of operational contracted capacity and 5,080 MW under construction. It also has around three point six two gigawatt hour (GWh) of battery energy storage capacity.

The combination of capacity and storage aims to address variability in renewable generation and support grid stability as India scales up clean energy deployment. The long tenor of the PFC loan aligns project cash flows with the life of the assets and supports timely commissioning. ACME Solar's successive financings reflect growing lender confidence in hybrid and storage enabled renewable projects.

ACME Solar Holdings on Wednesday said it secured Rs 34.05 billion (bn) in long-term project financing from Power Finance Corporation (PFC) for its 250 megawatt (MW) firm and dispatchable renewable energy project, strengthening its funding pipeline for under-construction renewable energy assets. PFC will be the sole lender and the loan carries a 19-year repayment tenure, the company said. The financing brings ACME Solar's total project funding raised in the current financial year to Rs 60.51 bn. The project, developed by ACME Urja One(Phase III), will combine solar, wind and battery energy storage systems to deliver firm and dispatchable renewable power and is spread across Jaisalmer in Rajasthan and Devbhumi Dwarka in Gujarat where land and grid connectivity are already in place. The project is scheduled to be commissioned next year and has a 25-year power purchase agreement with NHPC at a tariff of Rs four point three three per unit, which has regulatory approval. It is designed to improve the predictability and dispatchability of renewable power by integrating multiple clean energy technologies with battery storage. The latest funding follows a Rs 26.47 bn project loan secured from REC less than two weeks earlier for a 450 MW and 1,800 MWh assured peak power project and underscores ACME Solar's aggressive capital raising to fund an expanding renewable pipeline. The company currently has a diversified renewable portfolio totalling 8,070 MW across solar, wind, hybrid, storage and firm and dispatchable projects, with 2,990 MW of operational contracted capacity and 5,080 MW under construction. It also has around three point six two gigawatt hour (GWh) of battery energy storage capacity. The combination of capacity and storage aims to address variability in renewable generation and support grid stability as India scales up clean energy deployment. The long tenor of the PFC loan aligns project cash flows with the life of the assets and supports timely commissioning. ACME Solar's successive financings reflect growing lender confidence in hybrid and storage enabled renewable projects.

Related Stories

Gold Stories

Next Story
Real Estate

BMC OC Amnesty Scheme Requires Key Approvals from Mumbai Societies

The Brihanmumbai Municipal Corporation (BMC) has clarified that housing societies applying under its Occupation Certificate (OC) amnesty scheme must possess key approvals linked to the original construction. The requirements include a valid Intimation of Disapproval (IOD), an approved building plan and a Commencement Certificate (CC), along with a No Objection Certificate (NOC) from the developer or original construction applicant. The Standard Operating Procedure (SOP) makes clear that the absence of an OC alone will not qualify a building for relief. Societies must establish that their build..

Next Story
Real Estate

Gurugram Emerges as Luxury Senior Living Hub

Gurugram is emerging as a potential hub for luxury senior living, supported by available land, healthcare infrastructure, connectivity and a concentration of affluent professionals, high-net-worth individuals and non-resident Indians. These factors could give the city an advantage over land-constrained metros such as Mumbai. A report by the Association of Senior Living India (ASLI) and JLL estimates that India’s organised senior living market could represent a $10.1 bn opportunity by 2030. The sector had about 25,050 organised units as of June 2026, while penetration stood at only 1.5 per ce..

Next Story
Real Estate

Corrosion Costs India’s Infrastructure Rs. 142 bn Annually

Corrosion costs India an estimated Rs. 1.42 tn annually, equivalent to 4.3 per cent of gross domestic product, according to a report by the Confederation of Indian Industry and the National Research Institute. Infrastructure accounts for Rs. 142 bn of the annual burden, making it the sector with the largest absolute cost among those examined. The report, presented at the CII Annual Infrastructure Summit 2026, said the infrastructure-sector cost equals about 2.9 per cent of the sector’s gross domestic product. It estimated that effective measures could generate maximum savings of Rs. 495.8 bn..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code