ACME Solar Holdings Limited has secured long-term project funding of ₹1,571 crore from India Infrastructure Finance Company Limited (IIFCL) for the development and construction of its 300 MW assured peak power project in Rajasthan. The financing has been secured at a competitive interest rate, with IIFCL acting as the sole lender. The facility carries a repayment tenure of 19 years and marks IIFCL’s first standalone greenfield financing for an ACME Solar project.
With this financing, ACME Solar’s total project funding secured during the current financial year has reached ₹10,976 crore. The project, being developed by ACME Renewtech Sixth, has a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI) at a tariff of ₹6.28 per unit.
The assured peak power project will combine solar generation with a 1,350 MWh Battery Energy Storage System (BESS). The integrated system is designed to provide predictable and dispatchable renewable power in line with the PPA requirements. The project involves a total estimated capital expenditure of ₹2,123 crore and forms part of ACME Solar’s wider battery-storage investment programme for the current financial year.
The project has made progress on several key development activities. Grid connectivity is already operational, while the pooling substation and dedicated transmission line are at advanced stages of completion. A substantial portion of the required land has also been secured.
The entire project is being developed in Rajasthan, further strengthening the state’s role in ACME Solar’s portfolio of hybrid renewable energy projects. The combination of solar generation and large-scale battery storage is expected to help ACME Solar deliver renewable electricity during periods of peak demand. The BESS will provide the flexibility needed to manage variations in renewable generation and meet scheduled power supply requirements.
ACME Solar has been expanding its presence in hybrid renewable energy and storage projects as India increases its focus on reliable and dispatchable clean power. The company’s assured peak power projects are designed to combine renewable generation with energy storage to improve the predictability of electricity supply.
ACME Solar Holdings has a diversified renewable energy portfolio of 8,370 MW covering solar, wind, storage, firm and dispatchable renewable energy (FDRE) and hybrid projects. Its operational contracted capacity stands at 2,990 MW, along with approximately 3.62 GWh of BESS capacity. The company also has 5,380 MW of contracted capacity under construction, while its under-construction portfolio with signed PPAs stands at 4,010 MW.
The company has in-house engineering, procurement and construction (EPC) and operations and maintenance capabilities. These functions support project development, construction and long-term plant operations. The latest financing strengthens ACME Solar’s ability to execute its Rajasthan project and expand its battery-backed renewable power portfolio. The project is expected to contribute to the company’s broader strategy of developing large-scale renewable energy assets capable of delivering reliable power to the grid.
