ACME Solar Secures Rs. 3,892 Cr Project Funding For 400 MW FDRE Project From SBI

ACME Venus Urja Private Limited, a wholly owned subsidiary of ACME Solar Holdings Limited, has secured long-term project funding of Rs 3,892 crore from the State Bank of India (SBI). In a press release, ACME explained that it secured this funding to develop and construct a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project, with repayment spread across 19 years.

The company explained, "The funding is significant as it represents the company’s largest financing from SBI and also represents SBI’s first financing in ACME’s FDRE projects."

Sharing project details, the company mentioned, "This project is being developed in Barmer, Rajasthan, and is contracted with NHPC at a tariff of Rs 4.64 per unit. The project entails installing solar and Battery Energy Storage Systems (BESS) to meet supply obligations and ensure higher dispatchability as per the PPA conditions."

Previous Funding For Previous Projects

In August this year, ACME Hybrid Urja Pvt Ltd, a subsidiary of ACME Solar Holdings, secured long-term project financing of Rs 3,184 crore from REC. The funding will be used to develop a 280 MW Firm and Dispatchable Renewable Energy (FDRE) project contracted with NHPC.

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

During an investor call, the company mentioned that, as of Q1 FY26, ACME Solar has signed PPAs for 550 MW of FDRE and solar projects, as well as 550 MWh of standalone BESS projects. With this, its under-construction portfolio stands at 4080 MW plus 550 MWh of storage, and 55% of its portfolio has signed PPAs with offtakers.