ACME Secures Rs. 3,184 Cr Project Funding From REC For 280MW FDRE Project

ACME Hybrid Urja Pvt Ltd, a subsidiary of ACME Solar Holdings, has secured long-term project financing of ₹3,184 crore from REC, the company said in a press release. The funding will be used to develop a 280 MW Firm and Dispatchable Renewable Energy (FDRE) project contracted with NHPC, it added.

The company explained that REC will serve as the sole lender for this project, thereby providing long-term financing for 18 years. This is REC's third financing initiative of the ACME Solar's FDRE project, following the financing of two other FDRE projects earlier this year, of  570 MW cumulative capacity. 

The company signed a 25 year Power Purchase Agreement (PPA) with NHPC at a tari of Rs.4.64 Unit.. This project combines multiple renewable energy technologies, including Solar and Battery Energy Storage systems (BESS), to meet the supply obligations and ensure higher predictability and dispatchability.

Additionally, the company said it designed the project to meet a minimum annual CUF of 40% and peak hours availability of 90 on a monthly basis. 

Previous Funding

ACME Solar Holdings, earlier this year in June 2025, secured a refinancing facility of INR 1,072 crore for its 250 MW operational solar project in Aklera, Rajasthan, through its wholly owned subsidiary, ACME Aklera Power Technology Pvt Ltd. The debt facility, arranged by a consortium led by Bank of America and Standard Chartered Bank, is intended to refinance existing borrowings and lower the interest cost to 8.5 percent, down by 95 basis points.