ACME Hybrid Urja Private Limited, a wholly owned subsidiary of ACME Solar Holdings Limited, has secured long-term project financing worth ₹3,184 crore from REC Limited for the development and construction of a 280 MW Firm & Dispatchable Renewable Energy (FDRE) project contracted with NHPC. REC will serve as the sole lender, providing financing for 18 years.
This marks REC’s third funding initiative for ACME Solar’s FDRE projects in 2025, following financing for two other projects with a combined capacity of 570 MW earlier this year. ACME has signed a 25-year Power Purchase Agreement with NHPC at a tariff of ₹4.64 per unit.
The project will integrate multiple renewable energy technologies, including solar and battery energy storage systems (BESS), to meet supply obligations with higher predictability and dispatchability. It is designed to achieve a minimum annual capacity utilisation factor (CUF) of 40% and peak hours availability of 90% on a monthly basis, contributing significantly to greenhouse gas emission reductions and supporting India’s clean energy transition.
ACME Solar, one of India’s top 10 renewable energy independent power producers, has an operational capacity of 2,890 MW and projects under construction totalling 4,080 MW along with 550 MWh of standalone BESS. The company’s in-house EPC and O&M capabilities provide flexibility in technology choices, cost control, and project timelines.
Disclaimer: This article is based on a company press release and is for news reporting purposes only. It does not constitute investment advice.
