ACME Solar Secures INR 1,571 Crore Funding from IIFCL for 300 MW Assured Peak Power Project
ACME Solar Holdings Ltd has secured INR 1,571 crore in long-term project funding from India Infrastructure Finance Company Ltd (IIFCL). The funding is designated for the construction and development of the ACME Renewtech Sixth 300 MW assured peak power project in Rajasthan.This financing marks IIFCL's first sole greenfield finance engagement with ACME. Under the terms of the agreement, IIFCL is the sole lender for the project, and the repayment tenor is set at 19 years. With this latest project, the total financing secured by ACME Solar in the current fiscal year has reached INR 10,976 crore.
The project features a Power Purchase Agreement (PPA) executed with SECI Limited. The PPA spans 25 years and is valued at a tariff of INR 6.28 per unit.
Greentech Seventh Project and Operational Status
In addition to the secured financing, ACME is advancing the ACME Greentech Seventh assured peak power project. This project is part of ACME Solar's broader battery-storage capital deployment programme and incorporates multiple renewable energy technologies, including Solar and Battery Energy Storage System (BESS), to enhance supply predictability and dispatchability.The Greentech Seventh project involves a total capital expenditure (capex) of INR 2123 crore. The project is progressing strongly toward completion. The grid connectivity is already operational, and the Pooling Substation and dedicated transmission line are in advanced stages of completion. Land for the site has been substantially secured, allowing for timely construction.
The plant is designed to integrate 1350 MWh BESS alongside solar generation, ensuring assured peak power supply as mandated by the PPA. Reinforcing Rajasthan's role as a hub for the company, all such assured peak power projects are being developed entirely within the state.
ACME Solar's Portfolio and Capacity
ACME Solar Holdings Limited operates as an integrated renewable energy player, possessing a diversified portfolio across solar, wind, storage, FDRE, and hybrid solutions. The company utilizes an in-house EPC and O&M division, facilitating end-to-end project development and maintenance.As of the reporting period, ACME Solar's capacity portfolio and operational status are as follows:
| Metric | Capacity |
|---|---|
| Total Portfolio Capacity | 8,370 MW |
| Operational Contracted Capacity | 2,990 MW |
| BESS Capacity | ~3.62 GWh |
| Under Construction Contracted Capacity | 5,380 MW |
| Under Construction PPA Portfolio | 4,010 MW |
The company maintains a focus on delivering projects in a time and cost-effective manner, aiming for best in class operating performance evidenced by its industry leading CUF and operating margins.
ACMESOLAR Stock Price Movement
Shares of ACME SOLAR HOLDINGS LIMITED are slipping in the pre-open session at 9:06 AM, trading down by 0.01% after shedding ₹0.05 to currently stand at ₹395.9. This marginal dip reflects limited early activity as the stock moves slightly below its previous close of ₹395.95.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.