Debt financing
ACME Solar's arm Venus Urja secures Rs.3,892-Cr from SBI
Gurugram-based ACME Venus Urja Pvt Ltd, a wholly owned subsidiary of ACME Solar Holdings , has raised INR 3,892 crore in long-term project funding from State Bank of India (SBI). The loan has a 19-year tenure.The funding will be used for developing a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project in Rajasthan and will be operated under a contract with NHPC. The project aims to combine solar power generation with Battery Energy Storage System (BESS) technology.ACME Solar Holdings Ltd runs a portfolio comprising solar, wind, storage, hybrid, and Firm and Dispatchable Renewable Energy (FDRE) projects.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
