Shares of ACME Solar Holdings gained 5.3% to ₹318 apiece in Thursday’s intraday trade, September 11, after its wholly owned subsidiary, ACME Venus Urja, secured long-term project funding of ₹3,892 crore from the State Bank of India for the development and construction of a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project, with repayment spread across 19 years.
The FDRE project is being developed in Barmer, Rajasthan, and is contracted with NHPC, ACME Solar Holdings said in a statement on Thursday.
The company . The project combines multiple renewable energy technologies, including solar and Battery Energy Storage Systems (BESS), to meet supply obligations and ensure higher predictability and dispatchability.
The funding is significant, as it represents the company’s largest financing from SBI and also marks SBI’s first financing in ACME’s FDRE projects, the company said. Earlier, in mid-August, ACME Hybrid Urja secured ₹3,184 crore in project funding from state-owned REC Ltd for a 280 MW FDRE project.
On Monday, the company said it had placed an order for ) with leading global energy system supplier Chuzhou Lishen New Energy Technology Co., Ltd., through POSCO International Corporation and China FAW Group Import and Export Co., Ltd.
The order will be delivered in phases over the next six to 10 months and will be deployed across ACME Solar’s FDRE (Firm & Dispatchable Renewable Energy) and standalone BESS projects, scheduled for commissioning over the next 12 to 18 months.
With this latest order, ACME Solar’s cumulative BESS procurement surpasses 5 GWh, following a previous order of 3.1 GWh placed in July 2025.
Shares recover 68% from March lows
The company’s shares made their stock market debut in November 2024 and remained under pressure for the following five months before strengthening in March. Since then, they have continued to maintain that momentum, gaining 68%.
ACME Solar Holdings Ltd is a pure-play, fully integrated renewable energy company in India, with a diversified portfolio spanning solar, wind, storage, hybrid, and Firm and Dispatchable Renewable Energy (FDRE) projects.
The company is one of the top 10 renewable energy Independent Power Producers in India with an operational capacity of 2,890 MW and an under-construction capacity of 4,080 MW plus 550 MWh of standalone BESS.
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