ACME Solar Secures $164 Million in Financing for Rajasthan Renewable Energy Project
ACME Solar has secured long-term project financing of $164 million (Rs15.71 billion) from the India Infrastructure Finance Company Limited (IIFCL) to develop a 300MW peak power renewable energy facility in Rajasthan, India. This marks IIFCL's first instance as sole lender for ACME Solar’s greenfield project and includes a repayment period of 19 years. The project involves constructing the ACME Renewtech Sixth plant with integrated solar generation and battery storage capacity of 1.35GWh to ensure consistent power supply under its 25-year PPA with SECI at Rs6.28 per unit tariff. The total capital expenditure for this facility is approximately Rs21.23 billion, bringing ACME Solar’s funding in the current fiscal year to Rs109.7 billion. The Rajasthan plant aligns with ACME Solar's strategy of deploying battery-storage linked renewable assets and forms part of its broader 8.37GW diversified portfolio across solar, wind, storage, and hybrid technologies.
Topics: battery storage infrastructure financing renewable energy solar power