EXECUTIVE SUMMARY
INR 2,646.64 crore in long-term financing from REC will fund ACME Solar’s 450 MW/1,800 MWh FDRE project. The 20-year financing supports a solar and BESS development backed by a 25-year PPA with SJVN at INR 6.74 per unit.
Company: ACME Solar
Location: India
Project: ACME Greentech Seventh Assured Peak Power Project
Capacity: 450 MW / 1,800 MWh
ACME Solar, an India-based renewable energy company, has secured INR 2,646.64 crore in long-term project financing from REC for a 450 MW/1,800 MWh FDRE project. The financing will fund the development and construction of the ACME Greentech Seventh Assured Peak Power Project, with REC acting as the sole lender for 20 years.
The project is backed by a 25-year PPA signed with SJVN at a tariff of INR 6.74 per kWh. Its configuration combines solar generation with BESS to supply assured peak power. ACME Solar stated that the combined system is intended to improve the predictability and dispatchability of renewable electricity supplied under the agreement.
Firm and Dispatchable Renewable Energy projects combine renewable generation with storage or other dispatchable resources under contracted delivery requirements. In this project, the disclosed power capacity is 450 MW, while the BESS provides 1,800 MWh of energy capacity.
The financing adds to ACME Solar’s portfolio of FDRE developments linked to tenders issued by NHPC, the Solar Energy Corporation of India, SJVN and Tata Power. The report does not provide the project location, battery chemistry, equipment suppliers, construction schedule or targeted commercial operation date.