ACME Solar Secures ₹3,184 Crore REC Funding for 280 MW Renewable Project

13 Aug 2025 , 11:29 AM

ACME Solar Holdings Ltd. on Wednesday, August 13, announced that its wholly owned subsidiary ACME Hybrid Urja Pvt Ltd. has secured long-term project financing of ₹3,184 crore from REC Ltd. The funding will be used for the development of a 280 MW Firm and Dispatchable Renewable Energy (FDRE) project contracted with NHPC Ltd.

REC will act as the sole lender for the project, providing financing for 18 years. This is REC’s third financing for ACME Solar’s FDRE projects in 2025, following two earlier contracts with a combined capacity of 570 MW.

ACME Solar has signed a 25-year power purchase agreement with NHPC at a tariff of ₹4.64 per unit. The project will integrate solar power generation with a battery energy storage system to ensure higher predictability and dispatchability. It is designed to achieve a minimum annual capacity utilisation factor of 40% and ensure 90% peak-hour availability on a monthly basis.

ACME Solar Holdings shares gained 0.26% trading at ₹286.65 on August 13, 2025 at 11:21 AM IST. ACME Solar Holdings shares gained 5.87% in the last 5 days dipped 1.6% in the last month, up 22% in the year-to-date, and up 13% in the last year.

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