ACME Solar Gets ₹1,571 Cr Funding from IIFCL for Rajasthan Project
By ThePip Desk
ACME Solar secures ₹1,571 crore project financing from IIFCL for its 300 MW solar and BESS project in Rajasthan, marking a significant step in renewable energy infrastructure.
ACME Solar Holdings secured Rs 1,571 crore in long-term project funding from India Infrastructure Finance Company (IIFCL) for its 300 MW assured peak power project in Rajasthan.
This financing positions IIFCL as the sole lender for the ACME Renewtech Sixth project, marking its first sole greenfield finance to ACME with a competitive interest rate.
Key Project Figures
- Project funding: Rs 1,571 crore from IIFCL
- Sole lender: IIFCL
- Repayment tenor: 19 years
- Overall fiscal funding (ACME): Rs 10,976 crore
- Total project capex: Rs 2,123 crore
- PPA term: 25 years with SECI
- PPA tariff: Rs 6.28/unit
- BESS integration: 1350 MWh
The ACME Renewtech Sixth project integrates multiple renewable energy technologies, including Solar and a Battery Energy Storage System (BESS), to fulfill its Power Purchase Agreement (PPA) obligations with SECI.
Its design ensures enhanced predictability and dispatchability for power supply.
Execution Progress
The project is advancing robustly, with grid connectivity already operational, and the Pooling Substation and dedicated transmission line nearing completion.
Land for the site has been substantially secured, setting the stage for timely construction and reinforcing Rajasthan’s role in the company’s hybrid renewable capacity.