ACME Hybrid Urja secures ₹3,184 crore funding from REC
, a wholly-owned subsidiary of ACME Solar, on Wednesday said it has secured a long-term project financing of ₹3,184 crore from state-run
REC Ltd
for its 280 MW firm and dispatchable renewable energy project.
ACME has signed a 25-year
power purchase agreement
with NHPC at a tariff of ₹4.64 per unit. REC Ltd will be the sole lender for this project, providing an 18-year financing tenure.
According to the press release, the project, which combines
solar and battery energy storage
system technologies, is designed to provide a reliable and predictable power supply. This hybrid approach allows the company to meet supply obligations and ensure higher predictability and dispatchability of power, crucial for grid stability.
It added that the project is engineered to achieve a minimum annual capacity utilisation factor of 40 per cent and maintain a peak hours availability of 90 per cent on a monthly basis.
This initiative is expected to play a vital role in reducing greenhouse gas emissions and contributing to India's ambitious energy transition goals.
This marks the third time this year that REC has financed an ACME Solar FDRE project, bringing the cumulative capacity of these projects to 570 MW, added the official release.
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Time of India
3 days ago
- Time of India
ACME Hybrid Urja secures ₹3,184 crore funding from REC
ACME Hybrid Urja , a wholly-owned subsidiary of ACME Solar, on Wednesday said it has secured a long-term project financing of ₹3,184 crore from state-run REC Ltd for its 280 MW firm and dispatchable renewable energy project. ACME has signed a 25-year power purchase agreement with NHPC at a tariff of ₹4.64 per unit. REC Ltd will be the sole lender for this project, providing an 18-year financing tenure. According to the press release, the project, which combines solar and battery energy storage system technologies, is designed to provide a reliable and predictable power supply. This hybrid approach allows the company to meet supply obligations and ensure higher predictability and dispatchability of power, crucial for grid stability. It added that the project is engineered to achieve a minimum annual capacity utilisation factor of 40 per cent and maintain a peak hours availability of 90 per cent on a monthly basis. This initiative is expected to play a vital role in reducing greenhouse gas emissions and contributing to India's ambitious energy transition goals. This marks the third time this year that REC has financed an ACME Solar FDRE project, bringing the cumulative capacity of these projects to 570 MW, added the official release.
Business Standard
3 days ago
- Business Standard
ACME Solar's arm bags Rs 3,184-cr financing for 280 MW renewable energy project
ACME Solar Holdings announced that its wholly owned subsidiary, ACME Hybrid Urja has secured Rs 3,184 crore in long-term financing from REC for a 280 MW Firm & Dispatchable Renewable Energy (FDRE) project contracted with NHPC. As per an exchange filing, REC will act as the sole lender, providing 18 years of long-term financing. This marks RECs third financing for ACMEs FDRE projects this year, totalling 570 MW, reflecting strong confidence in ACMEs project development and execution capabilities. The company signed a 25-year Power Purchase Agreement (PPA) with NHPC at a tariff of Rs 4.64 /Unit. This project combines multiple renewable energy technologies including Solar and Battery Energy Storage System (BESS) to meet the supply obligations and, ensures higher predictability and dispatchability. Designed to meet a minimum annual CUF of 40% and peak hours availability of 90% on a monthly basis, the project will contribute significantly to reducing greenhouse gas (GHG) emissions and to the countrys energy transition goal. ACME stated that this funding milestone highlights growing investor confidence in Indias renewable sector and reinforces the countrys commitment to expanding scaling up clean and sustainable energy solutions in line with government targets. ACME Solar Holdings is a fully integrated renewable energy company in India with a diversified portfolio across solar, wind, storage, hybrid and Firm and Dispatchable Renewable Energy (FDRE) projects. The companys consolidated net profit stood at Rs 130.83 crore in Q1 FY26, steely higher than Rs 1.39 crore in Q1 FY25. Revenue from operations jumped 65% YoY to Rs 510.98 crore in Q1 June 2025. The counter rose 0.07% to Rs 286.35 on the BSE.
