ACME Solar Powers Up with ₹3,892 Crore from SBI

ACME Venus Urja, a wholly owned subsidiary of ACME Solar Holdings, has secured ₹3,892 crore in long-term project financing from the State Bank of India (SBI) to develop a 400 MW firm and dispatchable renewable energy (FDRE) project in Barmer, Rajasthan.

This 19-year loan marks ACME’s largest funding from SBI to date and represents the bank’s first investment in the company’s FDRE portfolio. The project, awarded by NHPC at a tariff of ₹4.64/unit, will combine solar power with a Battery Energy Storage System (BESS) to enhance dispatchability and ensure compliance with power purchase agreement (PPA) requirements.

ACME Solar Holdings continues to strengthen its position in the renewable energy sector with a diversified portfolio that includes solar, wind, energy storage, FDRE, and hybrid solutions. The company currently operates 2,890 MW of installed capacity, underscoring its commitment to sustainable and innovative energy solutions.

News by Rahul Yelligetti.