ACME Solar Secures ₹1,571 Crore IIFCL Funding for 300 MW Assured Peak Power Project in Rajasthan
ACME Solar Holdings has raised ₹1,571 crore in long-term project financing from India Infrastructure Finance Company Limited (IIFCL) for the construction and development of its ACME Renewtech Sixth 300 MW assured peak power project in Rajasthan.
The financing was secured at a competitive interest rate, with IIFCL acting as the sole lender and marking the institution's first sole greenfield financing for ACME Solar. The loan carries a repayment tenor of 19 years.
The project combines solar generation with a battery energy storage system (BESS) of 1,350 MWh capacity to supply assured peak power with greater predictability and dispatchability. The power purchase agreement for the project has been executed with the Solar Energy Corporation of India (SECI) for 25 years at a tariff of ₹6.28 per unit. The project involves total capital expenditure of ₹2,123 crore, with grid connectivity already operational and the pooling substation and dedicated transmission line in advanced stages of completion.
With this facility, ACME Solar's total project financing secured during the current financial year has reached ₹10,976 crore.