ACME Solar Holdings Limited has secured a massive Rs 2,646.64 crore project funding from REC Ltd for its 450MW/1800MWh FDRE Project, as per a BSE filing. The company will deploy these funds for the development and construction of this project. REC Ltd will serve as the sole financer for this project for 20 years.
The project involves the combination of multiple renewable energy technologies, including solar and Battery Energy Storage System (BESS), to meet the supply obligations and ensure higher predictability and dispatchability. The PPA for this project was signed with SJVN Limited at a tariff of INR 6.74/unit for a period of 25 years.
The contract was awarded through a long-term project funding agreement, which will support the development of the ACME Greentech Seventh Assured Peak Power Project. As part of the agreement, ACME Solar will ensure the timely completion of the project and maintain the highest standards of quality and performance.
The order adds to ACME Solar’s growing portfolio of renewable energy projects, strengthening its position as a leading integrated renewable energy player in India. This funding will enable the company to further expand its capabilities and deliver on its commitment to sustainable energy solutions.
This order reinforces ACME Solar’s position as a major player in the renewable energy sector, with a strong focus on innovation and sustainability.
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