ACME Solar secures ₹2,647 cr REC funding for 450 MW FDRE project

ACME Solar secures ₹2,647 cr REC funding for 450 MW FDRE project

ACME Solar Holdings on Thursday said it has secured Rs 2,646.64 crore in long-term project financing from REC Ltd for its 450 MW/1,800 MWh Assured Peak Power (Firm and Dispatchable Renewable Energy) project.

ACME Solar secures INR 2,646.64 crore REC funding for 450 MW/1,800 MWh FDRE project

ACME Solar today said it has secured INR 2,646.64 crore long-term project funding from REC Ltd for its 450MW/1800MWh ACME Greentech Seventh assured peak power project. The funds will be used for the development and construction of this project, with REC Ltd serving as the sole financer for the project for 20 years. The 450MW/1800MWh project benefits from a power purchase agreement (PPA) signed with SJVN Ltd at a tariff of INR 6.74/kWh for a peri…