ACME Solar Secures Rs 1,571 Crore for Rajasthan Project

ACME Solar Holdings secured Rs 1,571 crore in long-term project funding from the India Infrastructure Finance Company (IIFCL) to construct a 300 MW assured peak power project in Rajasthan. This financing represents the first sole greenfield finance provided by IIFCL to the company and includes a 19-year repayment tenor.

The project requires a total capital expenditure of Rs 2,123 crore. It integrates solar generation with a 1,350 MWh Battery Energy Storage System to improve power predictability and dispatchability. ACME Solar has already established a 25-year power purchase agreement with the Solar Energy Corporation of India at a tariff of Rs 6.28 per unit.

Execution of the project is in advanced stages, with land substantially secured and grid connectivity already operational. This latest funding brings the total financing secured by ACME Solar for the current fiscal year to Rs 10,976 crore.