Acme Solar Secures INR 2,646.64 Cr Funding from REC Ltd for Landmark Hybrid Project
ACME Solar Holdings Limited has secured ₹2,646.64 crore in long-term project financing from REC Limited for the development of its 450 MW/1,800 MWh Firm and Dispatchable Renewable Energy (FDRE) project, marking another major milestone in India’s clean energy transition.
The financing, announced on July 16, 2026, will support the construction of the ACME Greentech Seventh Assured Peak Power Project, one of the company’s flagship renewable energy initiatives designed to deliver reliable and dispatchable green power.
REC to Provide Long-Term Funding
REC Limited will act as the sole lender for the project, extending financing with a 20-year tenure. The long-term funding reflects strong institutional confidence in ACME Solar’s ability to execute large-scale renewable energy projects and strengthen India’s sustainable power infrastructure.
The funding will be used to accelerate project development and construction, enabling ACME Solar to expand its portfolio of next-generation renewable energy assets.
Hybrid Project Combines Solar Power with Battery Storage
The 450 MW FDRE project integrates solar power generation with a 1,800 MWh Battery Energy Storage System (BESS), creating a hybrid energy solution capable of supplying reliable electricity even when solar generation fluctuates.
By combining renewable generation with large-scale energy storage, the project is designed to deliver firm and dispatchable power, helping utilities meet peak electricity demand while improving grid stability.
25-Year Power Purchase Agreement Already in Place
The project is backed by a 25-year Power Purchase Agreement (PPA) signed with SJVN Limited at a tariff of ₹6.74 per unit. The long-term agreement provides revenue visibility and enhances the project’s financial viability.
With the PPA already secured, the project is well-positioned to move ahead with construction and eventual commercial operations.
Strengthening India’s Renewable Energy Ecosystem
The latest funding reinforces ACME Solar’s position as one of India’s leading integrated renewable energy companies, with a diversified portfolio spanning solar, wind, hybrid, and energy storage projects.
As India’s power sector increasingly shifts toward round-the-clock renewable energy solutions, projects that combine clean energy generation with battery storage are becoming essential for ensuring a reliable electricity supply.
The ₹2,646.64 crore financing from REC not only supports ACME Solar’s expansion plans but also highlights growing lender confidence in advanced renewable energy projects that improve both sustainability and grid reliability. With long-term financing and a secured power purchase agreement already in place, the company is well-positioned to play a larger role in India’s clean energy future.