ACME Solar raises ₹3,404.57 Cr for 250 MW FDRE project from PFC
ACME Solar has secured ₹3,404.57 crore in long-term project funding from PFC for its 250 MW FDRE project. This brings total funding to ₹6,051 crore this fiscal. The project has a 25-year PPA with NHPC at ₹4.33/unit and a 19-year repayment tenor with PFC.
Securing project funding of over ₹3,400 crore is a material event that will significantly impact the company's financial position and ability to execute its projects.
The company has successfully secured a significant project funding, which is positive for its development and expansion plans.
ACME Solar Holdings Ltd has secured ₹3,404.57 crore in long-term project funding from Power Finance Corporation Limited (PFC) for its ACME Urja One Pvt Ltd (Phase – III) 250 MW FDRE project. PFC will be the sole financier, with a repayment tenor of 19 years.
This funding brings the company's total project funding raised in the current fiscal year to ₹6,051 crore. The Power Purchase Agreement (PPA) for this project, signed with NHPC Limited, is for a duration of 25 years at a tariff of ₹4.33 per unit.
The ACME Urja One (Phase-III) FDRE project combines multiple renewable energy technologies including Solar, Wind and Battery Energy Storage Systems (BESS) to meet the supplementary obligations and ensures higher predictability and dispatchability. It spans across Fategarh-II in Jaisalmer, Rajasthan and Jamkhambhaliya in Dwarka, Gujarat with necessary land and connectivity already in place.
The development of this project is progressing on schedule and is expected to be commissioned next year. The company's integrated approach to end-to-end development and O&M of the plants ensures project in a time & cost-effective manner while ensuring best-in-class operating performance evident in its industry leading CUF and operating margins.
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Acme Solar Holdings Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Acme Solar Holdings Limited. Read the original for the full detail.