ACME Solar Secures INR 2,646.64 Crore Project Funding from REC Ltd for FDRE Initiative
ACME Solar Holdings Limited has secured Rs 2,646.64 crore in long-term project funding from REC Ltd for the development and construction of its ACME Greentech Seventh 450MW/1800MWh Assured Peak Power Project.REC Ltd will serve as the sole financer for the project over a 20 year period. The company intends to deploy these funds toward the infrastructure and development phases of the project.
The ACME Greentech Seventh Assured Peak Power Project incorporates multiple renewable energy technologies, including Solar and Battery Energy Storage System (BESS). This combination is designed to meet supply obligations while ensuring higher predictability and dispatchability for the power output.
| Project Detail | Specification |
|---|---|
| Project Name | ACME Greentech Seventh 450MW/1800MWh Assured Peak Power Project |
| Funding Amount | Rs 2,646.64 crore |
| Financing Source | REC Ltd |
| PPA Counterparty | SJVN Limited |
| Tariff Rate | INR 6.74/unit |
| PPA Duration | 25 Years |
| Financing Tenure | 20 Years |
The Power Purchase Agreement (PPA) for this project was signed with SJVN Limited at a tariff of INR 6.74 per unit for a period of 25 years.
ACME Solar Holdings Limited operates as an integrated renewable energy player with a diversified portfolio of 8,070 MW spanning solar, wind, storage, FDRE, and hybrid solutions. The company currently maintains an operational contracted capacity of 2,990 MW and approximately 3.3 GWh of BESS capacity.
Additionally, the company has under construction contracted capacity of 5,080 MW, which includes approximately 18 GWh of BESS installation. The portfolio of signed Power Purchase Agreements (PPAs) currently under construction stands at 3,580 MW. With an in-house EPC and O&M division, the company manages end-to-end development and operations for its plants to deliver projects in a time and cost-effective manner.
ACMESOLAR Stock Price Movement
Acme Solar Holdings Limited shares rallied 1.37% on Wednesday to settle at ₹389.85.Trading activity reached 1.97 million shares as the stock moved between a daily low of ₹383.5 and a high of ₹393.4.
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