ACME Solar Holdings Ltd. saw its shares rise by 5.31%, trading at ₹241.00 on the NSE as of 10:11 AM, following the announcement of its wholly-owned subsidiary, ACME Sun Power Private Limited, securing a Rs 3,753 crore term loan from REC Limited. The financing will be utilized for the development and construction of 320 MW Firm and Dispatchable Renewable Energy (FDRE) projects in partnership with SJVN.
Key Project Highlights
- Capacity: 320 MW FDRE projects comprising solar and wind energy.
- Solar Location: Jaisalmer, Rajasthan.
- Wind Sites: Bhuj and Jam Khambhaliya, Gujarat.
- Status:
- Power Purchase Agreement (PPA) signed with SJVN.
- Grid connectivity secured.
- Land acquisition in advanced stages.
This collaboration positions ACME Solar as a key player in India’s renewable energy transition.
REC Limited’s Confidence in ACME Solar
REC Limited’s decision to act as the sole lender underscores confidence in ACME Solar’s ability to execute world-class renewable energy projects. This follows REC’s previous financing of 250 MW FDRE projects for ACME Surya Power Private Limited.
Leadership Comments
Manoj Kumar Upadhyay, Chairman and Founder of ACME Solar, remarked:
“This funding reinforces the trust and confidence of our lenders. It strengthens our commitment to building world-class renewable energy projects and supporting India’s green energy transition.”
Market Reaction
The announcement bolstered investor confidence, reflecting optimism in ACME Solar’s growth trajectory and its contribution to India’s renewable energy goals.
Disclaimer: The information provided is for informational purposes only and should not be considered financial advice. Always consult a financial advisor before making investment decisions.
