ACME Venus Urja Private Limited, a wholly owned subsidiary of , has secured long-term project funding of ₹3,892 crore from for developing a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project. The funding comes with a 19-year repayment period.
The project represents SBI’s largest financing commitment to ACME Solar and marks the bank’s first investment in the company’s FDRE projects. The facility will be developed in Barmer, Rajasthan, and operates under a contract with NHPC at a tariff of ₹4.64 per unit.
The FDRE project will combine solar power generation with Battery Energy Storage System (BESS) technology to ensure consistent power supply and meet dispatchability requirements as outlined in the power purchase agreement.
ACME Solar Holdings is an integrated renewable energy company with operations spanning solar, wind, storage, FDRE and hybrid solutions. The company currently operates 2,890 MW of capacity and maintains in-house Engineering, Procurement and Construction (EPC) and Operations & Maintenance (O&M) divisions.
The Barmer project adds to ACME’s growing portfolio of renewable energy assets in India. The company’s integrated approach allows it to handle end-to-end project development and maintenance, which the company states helps deliver projects efficiently while maintaining operational performance standards.
The shares of ACME Solar Holdings Limited were trading at ₹307.55 up by ₹5.20 or 1.72 per cent on the today at 11.40 am.