ACME Solar Holdings Limited, a leading fully integrated renewable energy company in India, has achieved a major milestone by securing long-term project financing of INR 3,184 crore from REC Limited for its 280MW Hybrid Urja Firm & Dispatchable Renewable Energy (FDRE) Project, a wholly owned subsidiary initiative under ACME Hybrid Urja Private Limited. The financing arrangement is for a tenure of 18 years, with REC Limited acting as the sole lender, underscoring its confidence in ACME Solar’s project development and execution capabilities.

This latest project is contracted with NHPC and marks REC Ltd’s third financing initiative for ACME Solar’s FDRE projects, following the funding of two other FDRE projects earlier this year with a cumulative capacity of 570MW. This continuous support from leading financial institutions like REC Ltd highlights the market’s strong belief in ACME Solar’s robust operational expertise and the growing attractiveness of India’s renewable energy sector.

The 280MW Hybrid Urja project integrates multiple renewable energy technologies, combining Solar Power and Battery Energy Storage System (BESS) to ensure higher predictability and dispatchability. The project is designed to achieve a minimum annual CUF of 40% and peak hours availability of 90% on a monthly basis, significantly contributing to reducing greenhouse gas (GHG) emissions and supporting India’s energy transition objectives.

A 25-year Power Purchase Agreement (PPA) has been signed with NHPC at a tariff of INR 4.64 per unit, guaranteeing long-term stable cash flows. This agreement ensures that ACME Solar can deliver reliable and consistent renewable energy output, reinforcing the company’s position as one of India’s top renewable energy Independent Power Producers.

With an operational capacity of 2,890MW and an under-construction capacity of 4,080MW, along with 550 MWh of standalone BESS, ACME Solar Holdings Limited demonstrates its strong foothold in the renewable energy landscape. The company’s in-house EPC and O&M capabilities allow full control over project processes, costs, and timelines, providing flexibility in technology selection and supplier management.

This funding milestone reflects growing confidence among lenders in India’s renewable energy sector and highlights the country’s commitment to scaling up clean, sustainable energy solutions in line with the government’s ambitious renewable energy targets. By securing such a substantial financial commitment for its Hybrid Urja 280MW FDRE Project, ACME Solar not only strengthens its financial position but also reinforces its capability to execute large-scale renewable energy projects successfully.

ACME Solar’s strategic project development approach emphasizes integrating cutting-edge technologies and robust storage solutions to ensure dispatchable renewable energy, meeting the evolving needs of the electricity grid and contributing to India’s net-zero emissions goals. The project’s hybrid nature with Solar and BESS ensures consistent energy delivery, even during periods of low solar irradiation, making it a critical asset for grid stability and renewable energy reliability.

Overall, the successful funding of the 280MW Hybrid Urja FDRE Project from REC Ltd underscores ACME Solar Holdings Limited’s leadership in renewable energy project execution, its strong financial credibility, and its commitment to delivering sustainable, low-carbon solutions that align with India’s energy transition and climate objectives. The project is expected to play a pivotal role in meeting the growing energy demand while reducing the nation’s dependence on fossil fuels.

The Upcoming IPOs in this week and coming weeks are LGT Business Connextions, Vikram Solar, Gem Aromatics, Studio LSD, Shreeji Shipping Global, Patel Retail.

The Current active IPO are Regaal Resources, Mahendra Realtors and Infrastructure, Bluestone Jewellery and Lifestyle, Icodex Publishing Solutions.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.