ACME Solar Secures ₹3,404 Crore Long-Term Financing from PFC for 250 MW Renewable Energy Project
ACME Solar Holdings Limited has secured ₹3,404.57 crore in long-term project financing from Power Finance Corporation (PFC) for its 250 MW Firm and Dispatchable Renewable Energy (FDRE/FIRE) project. The funding marks another significant milestone in the company’s renewable energy expansion strategy and strengthens its financial position to support ongoing capacity additions.
The project is being developed through the company’s wholly owned subsidiary, ACME Ursa One Private Limited (Phase III), with PFC acting as the sole lender. The loan carries a repayment tenure of 19 years, providing long-term financial stability for the project.
With this latest financing, ACME Solar has now secured ₹6,051 crore in project funding during the current financial year, reflecting strong lender confidence in its growing renewable energy portfolio.
Key Highlights
- Project Financing: ₹3,404.57 crore
- Lender: Power Finance Corporation (PFC)
- Loan Tenure: 19 years
- Project Capacity: 250 MW Firm and Dispatchable Renewable Energy (FDRE/FIRE)
- Project Developer: ACME Ursa One Private Limited (Phase III)
Long-Term Power Purchase Agreement
The project is backed by a 25-year Power Purchase Agreement (PPA) with NHPC Limited at a fixed tariff of ₹4.33 per unit. The tariff has already received the necessary regulatory approval, ensuring long-term revenue visibility for the project.
Hybrid Renewable Energy with Battery Storage
The 250 MW project combines multiple clean energy technologies to deliver reliable round-the-clock power. It integrates:
- Solar power generation
- Wind power generation
- Battery Energy Storage Systems (BESS)
This hybrid configuration enables the project to supply firm and dispatchable renewable energy, improving grid reliability while supporting India’s transition to clean energy.
Project Progress
The project is being developed across Fatehgarh-II in Rajasthan and Jamkhambhaliya in Gujarat. According to the company, land acquisition and grid connectivity infrastructure are already in place, while construction is progressing as planned. The project is expected to be commissioned next year.
Expanding Renewable Energy Portfolio
ACME Solar continues to strengthen its position as one of India’s leading renewable energy developers. The company currently has a total renewable energy portfolio of 8,070 MW, spanning solar, wind, hybrid, and energy storage projects.
Of this portfolio:
- 2,990 MW represents operational contracted capacity.
- Around 3.62 GWh of Battery Energy Storage System (BESS) capacity is under development.
- 5,080 MW is currently under construction.
The latest financing further enhances ACME Solar’s ability to execute its expanding project pipeline and reinforces its commitment to supporting India’s renewable energy ambitions.