ACME Hybrid Urja Private Limited, a fully owned subsidiary of ACME Solar Holding Limited, has obtained long-term project financing of ₹3,184 crore from REC Limited to develop and construct a 280 MW Firm & Dispatchable Renewable Energy (FDRE) project contracted with NHPC. REC Limited will act as the sole lender, providing financing for a period of 18 years.
This marks REC’s third funding initiative for ACME Solar’s FDRE projects in 2025, following two earlier loans totaling 570 MW in capacity. These investments reflect strong trust from key financial institutions in ACME’s ability to deliver high-quality renewable energy projects.
The company has signed a 25-year Power Purchase Agreement (PPA) with NHPC at a fixed tariff of ₹4.64 per unit. The project will integrate multiple renewable technologies, including solar power and Battery Energy Storage Systems (BESS), ensuring reliable supply with improved predictability and dispatch flexibility.
Engineered to achieve a minimum annual capacity utilization factor (CUF) of 40% and monthly peak availability of 90%, the project will play a significant role in cutting greenhouse gas emissions and advancing India’s clean energy transition goals. This financing milestone highlights increasing investor confidence in India’s renewable sector and supports the government’s ambitious targets for sustainable energy growth.
ACME Solar Holdings Limited is a fully integrated renewable energy company operating in India, with a diverse portfolio spanning solar, wind, storage, hybrid, and Firm & Dispatchable Renewable Energy projects. Ranked among India’s top 10 independent power producers, ACME has an operational capacity of 2,890 MW and 4,080 MW under development, along with 550 MWh of standalone battery storage.
The company secures stable revenue through long-term power sales agreements with various government and private off-takers. Its in-house engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) teams enable it to maintain control over costs, schedules, and technology choices.
