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ACME Sun Power, a subsidiary of ACME Solar Holdings, said on Monday that it has secured ₹3,753 crore term loan financing from state-run lender REC.
The loan is for the development and construction of a 320 megawatt (MW) Firm and Dispatchable Renewable Energy (FDRE) project in collaboration with renewable energy implementing agency (REIA) SJVN.
The project would be located at high resource potential areas at Jaisalmer (Rajasthan) for solar capacity as well as Bhuj and Jam Khambhaliya (Gujarat) for the wind sites, the company said.
The Power Purchase Agreement (PPA) has been signed with SJVN and the grid connectivity has also been secured. The land acquisition process is in advanced stages, it added.
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REC will serve as the sole lender for this project, highlighting its confidence in ACME Solar’s project execution capabilities.
Recently, another FDRE project, ACME Surya Power, had secured project financing for a 250 MW FDRE project from REC.
These projects are poised to enhance India’s renewable energy footprint, providing sustainable and clean energy solutions in line with the government’s ambitious renewable energy goals.
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