ACME Solar Secures ₹3,405 Crore PFC Funding for 250 MW FDRE Project in Rajasthan and Gujarat
ACME Solar Holdings has secured ₹3,404.57 crore in long-term project financing from Power Finance Corporation (PFC) for the development and construction of its ACME Urja One Pvt Ltd (Phase-III) project, a 250 MW Firm and Dispatchable Renewable Energy (FDRE) facility. PFC will act as the sole financier for the project, with a repayment tenor of 19 years.
The project is spread across Fatehgarh-II in Jaisalmer, Rajasthan, and Jamkhambhaliya in Devbhumi Dwarka, Gujarat, with land and transmission connectivity already in place. It combines solar, wind and battery energy storage system (BESS) technologies to deliver firm and dispatchable renewable power, and is scheduled for commissioning in 2027.
The power purchase agreement for the project was signed with NHPC Limited for 25 years at a tariff of ₹4.33 per unit, approved and adopted by central and state regulators. With this financing, ACME Solar's total project funding raised in the current financial year has reached ₹6,051 crore, coming less than two weeks after the company secured ₹2,646.64 crore in financing from REC Limited for a separate 450 MW FDRE project.
ACME Solar currently holds a renewable energy portfolio of 8,070 MW across solar, wind, hybrid, storage and FDRE segments, with 2,990 MW of operational contracted capacity and 5,080 MW under construction, alongside about 3.62 GWh of battery energy storage capacity.