ACME Sun Power, a subsidiary of ACME Solar Holdings, has obtained a ₹3,753 crore term loan from state-owned REC Ltd to fund its renewable energy projects. This funding will support the development of a 320 MW Firm and Dispatchable Renewable Energy (FDRE) project in partnership with SJVN.
The FDRE project, designed to provide round-the-clock power, will help power distribution companies meet renewable energy and storage obligations. The solar component will be based in Jaisalmer, Rajasthan, while wind sites will be developed in Bhuj and Jam Khambhaliya, Gujarat. A power purchase agreement with SJVN has already been signed, and grid connectivity is in place. Land acquisition for the project is also in advanced stages.
Manoj Kumar Upadhyay, Chairman and Founder of ACME Solar Holdings, expressed gratitude for the financial backing, stating, “This funding is a crucial milestone in our mission to deliver world-class renewable energy projects and drive India’s transition to green energy.”
ACME Sun Power is a leading renewable energy company dedicated to advancing sustainable solutions through innovative solar technologies. With a strong focus on clean energy, the company specializes in developing, operating, and managing large-scale solar power plants that deliver reliable and eco-friendly electricity.
ACME Sun Power is at the forefront of harnessing solar energy to reduce carbon emissions and drive the global transition towards renewable energy. Known for its cutting-edge research and efficient project execution, the company has established a significant presence across various geographies, contributing to energy independence and environmental sustainability. By integrating advanced technology with sustainable practices, ACME Sun Power is empowering communities and industries to embrace a greener future.
