ACME Venus Urja Private Limited, a wholly owned subsidiary of ACME Solar Holdings Limited, has secured long-term project funding of Rs 38.92 billion from State Bank of India (SBI) for the development and construction of a 400 MW firm and dispatchable renewable energy (FDRE) project with the repayment spread across 19 years.
The project is being developed in Barmer, Rajasthan and is contracted with NHPC Limited at a tariff of Rs 4.64 per unit. It will involve the installation of solar and battery energy storage system to meet supply obligations and ensure enhanced dispatchability.