ACME Solar Holdings has secured ₹1,571 crore long-term project funding from India Infrastructure Finance Company Ltd (IIFCL) for the construction and development of ACME Renewtech Sixth 300 MW assured peak power project in Rajasthan. According to reports from Business Standard, this project financing was secured on August 27, 2026 at a competitive rate of interest, with IIFCL acting as the sole lender for the project. The funding comes with a repayment tenor of 19 years and marks IIFCL's first sole greenfield finance to ACME Solar. The project features a 1,350 MWh Battery Energy Storage System (BESS) alongside solar generation to guarantee assured peak power supply.
The current funding milestone takes the overall financing secured by ACME Solar during this fiscal to ₹10,976 crore, as reported by Business Standard. The Power Purchase agreement (PPA) for this project has been executed with SECI Limited for a period of 25 years at a tariff of ₹6.28/unit. The project entails a total capex of ₹2,123 crore and forms part of ACME Solar's broader battery-storage capital deployment programme for the current financial year. Under the contract, the scheduled commencement of supply date (SCSD) is 18 months from the date of signing the power purchase agreement, with a project tenure of 25 years from the SCSD date.
The ACME Greentech Seventh assured peak power project combines multiple renewable energy technologies including Solar and Battery Energy Storage System (BESS) to meet the supply obligations under its PPA, ensuring higher predictability and dispatchability, according to Business Standard. This integrated approach leverages both traditional solar generation and battery storage capabilities to optimize power delivery and grid stability. The project is being developed within Rajasthan, a state ACME Solar views as a growing hub for its hybrid renewable capacity. The entire project is being developed within Rajasthan, a state ACME Solar views as a growing hub for its hybrid renewable capacity.
ACME Solar Holdings shares experienced a 3% jump following the announcement of securing the 300 MW assured peak power project from SECI, as reported by Upstox Securities. The stock price movement reflects positive market sentiment toward the project acquisition. ACME Solar is recognized as a leading integrated renewable energy player, boasting a diversified portfolio of 8,370 MW across solar, wind, storage, FDRE, and hybrid solutions, with operational contracted capacity standing at 2,990 MW and operational BESS capacity at 3.62 gigawatt-hours (GWh).
