ACME Solar Secures ₹2,646 Crore Funding for 450MW FDRE Project from REC Ltd
ACME Solar secured ₹2,646.64 crore in project funding from REC Ltd for its 450MW/1800MWh FDRE project. REC Ltd will be the sole financer for 20 years. The project has a PPA with SJVN Limited at ₹6.74/unit for 25 years, integrating solar and battery storage.
Securing a large project funding of over ₹2,600 crore is a material event that will significantly impact the company's development and construction capabilities, thereby influencing its financial performance and market position.
The announcement details a significant funding achievement for a major renewable energy project, which is positive for the company's growth and operational capacity.
ACME Solar Holdings Limited has announced the securing of ₹2,646.64 crore in long-term project funding from REC Ltd for its ACME Greentech Seventh 450MW/1800MWh Assured Peak Power Project. The funds will be utilized for the development and construction of this project, with REC Ltd serving as the sole financer for a period of 20 years.
The project involves a Power Purchase Agreement (PPA) signed with SJVN Limited at a tariff of ₹6.74 per unit for 25 years. The ACME Greentech Seventh project integrates Solar and Battery Energy Storage System (BESS) technologies to ensure higher predictability and dispatchability in meeting supply obligations.
ACME Solar Holdings Limited is a significant player in the renewable energy sector, with a diverse portfolio of 8,070 MW across solar, wind, storage, FDRE, and hybrid solutions. The company has an operational contracted capacity of 2,990 MW and approximately 3.3 GWh of BESS capacity. Additionally, it has under construction contracted capacity of 5,080 MW, including about 18 GWh of BESS installation. The PPA signed portfolio for under-construction projects stands at 3,580 MW. ACME Solar manages end-to-end development and operations and maintenance (O&M) through its in-house EPC and O&M divisions.
What to do with a filing like this
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.