ACME Solar Holdings Limited has secured long-term project financing of Rs 26.47 billion from REC Limited for its ACME Greentech Seventh 450 MW/1,800 MWh assured peak power project. The funding will be used to develop and construct the project, with REC acting as the sole lender for a tenure of 20 years.
The project has a 25-year power purchase agreement with SJVN Limited at a tariff of Rs 6.74 per unit. It combines solar power and a battery energy storage system (BESS) to provide reliable and dispatchable renewable energy. In a separate development, the company, through its wholly owned subsidiary ACME Suryodaya Private Limited, has commissioned 110.336 MWh of BESS capacity at its project in Jaisalmer, Rajasthan. With this commissioning, the subsidiary’s commissioned BESS capacity has increased to 285 MW/952.96 MWh.