Acme Solar Secures INR 3,404.57 Crore Project Funding from PFC for 250 MW FDRE Project

Acme Solar Secures INR 3,404.57 Crore Project Funding from PFC for 250 MW FDRE Project​

Acme Solar Holdings Limited has secured long-term project funding worth INR 3,404.57 crore for its ACME Urja One Pvt Ltd (Phase III) 250 MW Fuel Diverse Renewable Energy (FDRE) project. The funding was provided by Power Finance Corporation Limited (PFC), which will serve as the sole financer for the development and construction of the facility, with a repayment tenor set at 19 years.

This financing milestone brings the total project funding raised by the company during the current fiscal year to Rs 6,051 crores. The Power Purchase Agreement (PPA) for the ACME Urja One project was signed with NHPC Limited for a period of 25 years, at a tariff rate of INR 4.33/unit. This tariff has already been approved and adopted by the Central and State Regulator.

The ACME Urja One (Phase-III) FDRE project is designed to maximize supply predictability and dispatchability by integrating multiple renewable energy technologies, including Solar, Wind, and Battery Energy Storage System (BESS). The project development spans two locations: Fategarh-II in Jaisalmer, Rajasthan, and Jamkhambhaliya in Devbhumi Dwarka, Gujarat. Both necessary land and connectivity are already secured for the project, which is progressing on schedule and is anticipated to be commissioned next year.

Company Profile and Portfolio Strength​

ACME Solar Holdings Limited operates as a leading integrated renewable energy player with a diversified portfolio spanning solar, wind, storage, FDRE, and hybrid solutions, totaling 8,070 MW. The company currently has an operational contracted capacity of 2,990 MW and approximately 3.62 GWh of BESS capacity.

Further bolstering its growth trajectory is the under construction PPA signed portfolio, which stands at 3,880 MW. With both an in-house EPC (Engineering, Procurement, and Construction) division and an O&M (Operation and Maintenance) division, ACME Solar manages end-to-end development of the plants. This integrated approach enables the company to deliver projects in a cost-effective manner while maintaining industry-leading CUF and operating margins.

ACMESOLAR Stock Price Movement​

Shares of Acme Solar Holdings Limited shed value on Tuesday, slipping down 2.44% from its previous close and settling at ₹355.50. The stock experienced significant activity in the market, recording a total traded volume of 2.21 million shares.