ACME Solar Secures INR 3,404.57 Crore PFC Funding for 250 MW FDRE Project

ACME Solar Holdings has secured INR 3,404.57 crore long-term project funding for its ACME Urja One (Phase – 3) 250 MW FDRE project from Power Finance Corporation (PFC) for the development and construction of the project. 

PFC will serve as the sole financer for this project with a repayment tenor of 19 years. The current funding milestone takes the overall project funding raised by the company during this fiscal to INR 6,051 crores. The PPA for this project was signed with NHPC for a period of 25 years at a tariff of INR 4.33/unit. The tariff is already approved and adopted by the Central and State Regulator.

The ACME Urja One (Phase-3) FDRE project combines multiple renewable energy technologies including Solar, Wind and Battery Energy Storage System (BESS) to meet the supply obligations and ensures higher predictability and dispatchability. 

The project spans across Fatehgarh-2 in Jaisalmer, Rajasthan and Jamkhambhaliya in Dwarka, Gujarat with necessary land and connectivity already in place. The development of this project is progressing on schedule and is expected to be commissioned next year.