Shares of ACME Solar Holdings Ltd were trading 2.17% higher at ₹292.10 in early trade on Tuesday, August 13, after the company announced that its wholly owned subsidiary, ACME Hybrid Urja Private Limited, has secured long-term project financing worth ₹3,184 crore from REC Limited for a 280 MW Firm & Dispatchable Renewable Energy (FDRE) project contracted with NHPC. REC will be the sole lender for an 18-year term.
This is REC’s third funding initiative for ACME Solar’s FDRE projects in 2025, after financing two other projects with a combined 570 MW capacity earlier this year. ACME has signed a 25-year Power Purchase Agreement (PPA) with NHPC at a tariff of ₹4.64 per unit.
The new project will integrate solar power and battery energy storage systems (BESS) to provide predictable and dispatchable renewable energy. It is designed to maintain at least 40% annual CUF and 90% peak-hours availability on a monthly basis. This will aid in reducing greenhouse gas emissions and strengthen India’s clean energy transition.
With this, ACME Solar—one of India’s top 10 renewable energy IPPs—will further expand its portfolio. The company already has 2,890 MW operational capacity, 4,080 MW under construction, and 550 MWh standalone BESS in the pipeline. Its in-house EPC and O&M capabilities offer flexibility in technology choice, cost efficiency, and project delivery timelines.