ACME Solar's arm bags Rs 3,184-cr financing for 280 MW renewable energy project

ACME Solar Holdings announced that its wholly owned subsidiary, ACME Hybrid Urja has secured Rs 3,184 crore in long-term financing from REC for a 280 MW Firm & Dispatchable Renewable Energy (FDRE) project contracted with NHPC.

As per an exchange filing, REC will act as the sole lender, providing 18 years of long-term financing. This marks RECs third financing for ACMEs FDRE projects this year, totalling 570 MW, reflecting strong confidence in ACMEs project development and execution capabilities.

The company signed a 25-year Power Purchase Agreement (PPA) with NHPC at a tariff of Rs 4.64 /Unit. This project combines multiple renewable energy technologies including Solar and Battery Energy Storage System (BESS) to meet the supply obligations and, ensures higher predictability and dispatchability. Designed to meet a minimum annual CUF of 40% and peak hours availability of 90% on a monthly basis, the project will contribute significantly to reducing greenhouse gas (GHG) emissions and to the countrys energy transition goal.

ACME stated that this funding milestone highlights growing investor confidence in Indias renewable sector and reinforces the countrys commitment to expanding scaling up clean and sustainable energy solutions in line with government targets.

ACME Solar Holdings is a fully integrated renewable energy company in India with a diversified portfolio across solar, wind, storage, hybrid and Firm and Dispatchable Renewable Energy (FDRE) projects.

The companys consolidated net profit stood at Rs 130.83 crore in Q1 FY26, steely higher than Rs 1.39 crore in Q1 FY25. Revenue from operations jumped 65% YoY to Rs 510.98 crore in Q1 June 2025.

The counter rose 0.07% to Rs 286.35 on the BSE.

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