 "ACME Solar secures ₹3,892 cr project funding for 400 MW FDRE project")
ACME Venus Urja, a wholly-owned subsidiary of ACME Solar Holdings, has secured long-term project funding of ₹3,892 crore from the State Bank of India for the development and construction of a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project.
The repayment spread across 19 years, ACME Solar Holdings said in a statement on Thursday.
The FDRE project is being developed in Barmer, Rajasthan and is contracted with NHPC at a tariff of ₹4.64/Unit.
The project would entail installing solar and Battery Energy Storage System (BESS) to meet the supply obligations and ensure higher dispatchability as per the Power Purchase Agreement (PPA) conditions.
The funding is significant as it represents the company's largest financing from State Bank of India (SBI) and also, represents SBI's first financing in ACME's FDRE projects, as per the company statement.
ACME Solar Holdings is a leading integrated renewable energy player with a diversified portfolio spanning solar, wind, storage, FDRE and hybrid solutions and an operational capacity of 2,890 MW.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app