Grid-Ready Power: ACME Solar Closes ₹3,404 Cr Mega Deal

ACME Solar Holdings has successfully closed a ₹3,404.57 crore long-term financing facility with Power Finance Corporation (PFC) to fund its 250 MW ACME Urja One (Phase-III) project. Serving as the sole lender, PFC’s 19-year debt facility elevates ACME Solar’s total project financing for the current fiscal year to ₹6,051 crore.

The hybrid project combines solar, wind, and Battery Energy Storage Systems (BESS) to deliver reliable, firm, and dispatchable renewable energy (FDRE) to the grid. Backed by a 25-year Power Purchase Agreement (PPA) with NHPC at a tariff of ₹4.33 per unit—fully approved by regulatory authorities—the multi-location facility spans Rajasthan (Jaisalmer) and Gujarat (Devbhumi Dwarka). With land acquisition and grid interconnection rights secured, the development remains on track to advance India’s clean energy transition.

News by Rahul Yelligetti.