Gurugram-based ACME Solar secured long-term project financing of Rs. 2,646.64 crore from REC Ltd. for its ACME Greentech Seventh 450 MW/1,800 MWh Assured Peak Power Project. REC Ltd. would be the project’s only financier, providing funding for 20 years. The company also shared that the funds will be used for the development and construction of the project. ACME Solar secured the project under a Power Purchase Agreement (PPA) with SJVN Limited at a tariff of Rs. 6.74/unit for a period of 25 years.
The ACME Greentech Seventh Assured Peak Power Project combines multiple renewable energy technologies, including solar power and a Battery Energy Storage System (BESS), to meet its supply obligations while ensuring greater predictability and dispatchability.
Acme Solar had locked in a 450 MW renewable energy project comprising 300 MW and 150 MW FDRE power components, which secured a tariff of Rs. 6.74 per unit. Its subsidiary, ACME Greentech Seventh Private Limited, executed two Power Purchase Agreements (PPAs) comprising 300 MW and 150 MW with SJVN Limited for a 450 MW FDRE power project. The ACME Solar project is scheduled to commence supply from March 3, 2028, for a period of 25 years.
Previously, ACME Hybrid Urja Pvt. Ltd., a subsidiary of ACME Solar Holdings, secured funding from REC for a separate Firm and Dispatchable Renewable Energy (FDRE) project. It secured Rs. 3,184 crore from REC to develop a 280 MW Firm and Dispatchable Renewable Energy (FDRE) project contracted with NHPC.
REC served as the sole lender for the project, providing project financing for 18 years. This was REC’s third financing initiative for ACME Solar’s FDRE projects, following the financing of two other FDRE projects with a combined capacity of 570 MW in 2025.
Prior to that, ACME Aklera Power Technology Pvt. Ltd., a subsidiary of ACME, obtained a Rs. 1,072 crore refinancing loan for its 250 MW solar project in Aklera, Rajasthan, in June 2025. A group led by Standard Chartered Bank and Bank of America established the financing facility, which was intended to refinance current borrowings and lower the interest rate to 8.5 percent, a decrease of 95 basis points.
Separately, REC Limited granted ACME Sun Power Private Limited, a subsidiary of ACME Solar Holdings, a term loan of Rs. 3,753 crore. The purpose of this funding is to assist SJVN in developing and building a 320 MW Firm and Dispatchable Renewable Energy (FDRE) project.
ACME Solar Holdings Limited is among India’s top 10 leading renewable energy Independent Power Producers (IPPs), contributing significantly to the nation’s transition towards clean energy. With our diverse portfolio and focus on innovation, we are committed to powering a sustainable future for all.
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