ACME Solar Holdings has tied up ₹3,404.57 crore in long-term financing from Power Finance Corporation (PFC) for the development of its 250 MW Firm and Dispatchable Renewable Energy (FDRE) project, taking the company’s total project funding raised in the current financial year to ₹6,051 crore. The funding will be routed through its subsidiary, ACME Urja One (Phase-III), with PFC acting as the sole lender under a 19-year repayment tenure.
The project integrates solar, wind and Battery Energy Storage System (BESS) technologies to deliver reliable, dispatchable renewable power. It is being developed across Fatehgarh-II in Jaisalmer, Rajasthan, and Jamkhambhaliya in Devbhumi Dwarka, Gujarat, where land acquisition and grid connectivity are already in place. Commissioning is targeted for next year.
Power generated from the project will be supplied to NHPC under a 25-year Power Purchase Agreement (PPA) at a tariff of ₹4.33 per unit, which has already received approval from the relevant central and state regulatory authorities. The financing is expected to support timely execution of the project while strengthening ACME Solar’s growing portfolio of dispatchable renewable energy assets.
ACME Solar currently has a diversified renewable energy portfolio of 8,070 MW spanning solar, wind, hybrid, storage and FDRE projects. Of this, 2,990 MW is operational, while 5,080 MW of contracted capacity is under various stages of construction, alongside 3.62 GWh of battery energy storage capacity.
