ACME Solar Holdings has secured ₹3,404 crore in long-term project financing from Power Finance Corporation (PFC) for the development of a 250 MW Firm and Dispatchable Renewable Energy (FDRE) project through its subsidiary, ACME Urja One Pvt. Ltd. Phase III.
The financing will support the construction of a hybrid renewable energy project integrating solar power, wind energy and a Battery Energy Storage System (BESS), strengthening the company’s portfolio of round-the-clock clean energy solutions.
Hybrid Renewable Project Across Rajasthan and Gujarat
The 250 MW FDRE project will be developed across Fatehgarh-II in Jaisalmer, Rajasthan, and Jamkhambhaliya in Devbhumi Dwarka, Gujarat.
According to the company, both land acquisition and transmission connectivity for the project have already been secured, with commercial operations expected to commence in 2027.
The combination of solar, wind and battery storage is designed to ensure reliable and dispatchable renewable power, enabling electricity supply even when solar or wind generation fluctuates.
PFC to Serve as Sole Lender
Power Finance Corporation will act as the sole lender for the project.
The financing carries a 19-year repayment tenure, providing long-term capital support for the development of the large-scale renewable energy asset.
With this transaction, ACME Solar’s total project financing raised during the current financial year has increased to ₹6,051 crore, reflecting continued investment in its renewable energy expansion plans.
25-Year Power Purchase Agreement with NHPC
The electricity generated from the project will be supplied under a 25-year Power Purchase Agreement (PPA) signed with NHPC Limited.
The agreed tariff has been fixed at ₹4.33 per unit, with the company stating that the tariff has already received approval and adoption from the relevant central and state regulatory authorities.
The long-term PPA provides revenue visibility while supporting the deployment of firm renewable power capable of meeting demand across different times of the day.
Strengthening India’s Clean Energy Transition
Firm and Dispatchable Renewable Energy (FDRE) projects are increasingly becoming an important part of India’s renewable energy strategy, combining multiple clean energy sources with battery storage to deliver more stable and reliable electricity.
The latest financing underscores growing investment in hybrid renewable infrastructure as India works towards expanding its non-fossil fuel capacity, improving grid reliability and supporting its long-term clean energy objectives.
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