Acme Solar raises Rs.3,405-Cr from Power Finance Corporation

Gurugram-based renewable energy firm ACME Solar Holdings has raised INR 3,405 crore in long-term project financing from the state-owned Power Finance Corporation . The capital is earmarked for the development of a 250 MW Firm and Dispatchable Renewable Energy (FDRE) project located across Rajasthan and Gujarat. The project integrates solar, wind, and battery energy storage systems to provide consistent, dispatchable renewable power.The project is being executed by the company's subsidiary, ACME Urja One, and features a 25-year power purchase agreement with NHPC at a tariff of INR 4.33 per unit. The debt facility provided by the Power Finance Corporation carries a repayment tenure of 19 years. This transaction brings the total project financing raised by ACME Solar during the current financial year to INR 6,051 crore.