ACME Solar Holdings Limited has secured long-term project financing of INR 1,571 crore from the India Infrastructure Finance Company Limited (IIFCL) for the development of its 300 MW assured peak power project in Rajasthan.

The financing will support the construction and development of the ACME Renewtech Sixth 300 MW project. IIFCL is the sole lender for the project, providing funding at a competitive interest rate with a repayment period of 19 years. The transaction also marks IIFCL’s first sole greenfield financing for ACME Solar.

With this financing, ACME Solar’s total project funding secured during the current financial year has reached INR 10,976 crore. The company has signed a 25-year Power Purchase Agreement (PPA) with SECI Limited for the project at a tariff of INR 6.28 per unit.

The project requires a total capital expenditure of INR 2,123 crore and is part of ACME Solar’s broader battery energy storage deployment program for the financial year. To deliver predictable and dispatchable renewable power under the PPA, the project will integrate solar generation with a 1,350 MWh Battery Energy Storage System (BESS).

Project development is progressing, with grid connectivity already operational and land acquisition substantially completed. The dedicated transmission line and pooling substation are also at advanced stages of development, supporting the company’s target of timely project execution.

Located entirely in Rajasthan, the project further strengthens the state’s position in ACME Solar’s hybrid renewable energy portfolio. The integration of solar generation and battery storage is expected to enhance the project’s ability to provide power with greater predictability and dispatchability.

ACME Solar currently manages a renewable energy portfolio of 8,370 MW across solar, wind, storage and hybrid projects. Its operational contracted capacity stands at 2,990 MW, supported by approximately 3.62 GWh of battery storage.

The company also has 5,380 MW of capacity under construction, including projects with signed PPAs for 4,010 MW. ACME Solar uses in-house engineering, procurement, construction and operations capabilities to support efficient project execution and cost management.