ACME Solar raises Rs.1,571-Cr project funding from IIFCL

Gurugram-based renewable energy firm ACME Solar Holdings has raised INR 1,571 crore in project funding from India Infrastructure Finance Company Ltd (IIFCL). IIFCL acted as the sole lender for the financing which has a 19-year repayment tenor.The funding is designated for the ACME Renewtech Sixth 300 MW assured peak power project located in Rajasthan. A power purchase agreement for the project has been executed with SECI Ltd for a duration of 25 years at a tariff of INR 6.28 per unit.