ACME Solar Holdings Limited (NSE:ACMESOLAR) disclosed via a press release filed with BSE and NSE on 16 July 2026 that it has secured Rs 2,646.64 crore in long-term project funding from REC Ltd for its ACME Greentech Seventh 450MW/1800MWh Assured Peak Power project, a Firm and Dispatchable Renewable Energy (FDRE) initiative. The funds will be deployed for the development and construction of this project, with REC Ltd acting as the sole lender over a 20-year financing tenure.
Key Highlights
- ACME Solar Holdings has raised Rs 2,646.64 crore in long-term project financing from REC Ltd for its ACME Greentech Seventh Assured Peak Power Project.
- The project has a capacity of 450MW of generation paired with 1,800MWh of Battery Energy Storage System (BESS), classifying it as an FDRE project.
- REC Ltd will serve as the sole financier for this project, with the loan structured over a 20-year tenure.
- A Power Purchase Agreement (PPA) for this project has been signed with SJVN Limited at a fixed tariff of Rs 6.74 per unit for 25 years.
- The project integrates multiple renewable energy technologies, including solar and BESS, to ensure higher predictability and dispatchability of power supply.
- The company's total diversified portfolio stands at 8,070 MW, with an operational contracted capacity of 2,990 MW and under-construction contracted capacity of 5,080 MW.
- ACME Solar's BESS capacity includes approximately 3.3 GWh operational and approximately 18 GWh under construction, reflecting its focus on storage-led renewable solutions.
About the Company
ACME Solar Holdings Limited (NSE:ACMESOLAR, BSE:544283) is an integrated renewable energy company headquartered at Plot No. 152, Sector-44, Gurugram, Haryana. Incorporated in 2015 with CIN L40106HR2015PLC102129, the company develops, builds, owns, and operates solar, wind, hybrid, FDRE, and battery storage projects across India. It maintains an in-house Engineering, Procurement and Construction (EPC) division as well as an Operations and Maintenance (O&M) arm, enabling end-to-end project delivery. The company's contracted portfolio spans 8,070 MW, with 2,990 MW operational and 5,080 MW under construction, including approximately 18 GWh of BESS installations.
Announcement in Detail
ACME Solar Holdings filed a voluntary press release with both BSE and NSE on 16 July 2026, through its Company Secretary and Compliance Officer, Rajesh Sodhi. The filing clarified that the submission was voluntary and was not to be treated as an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The press release detailed the financial closure of the ACME Greentech Seventh Assured Peak Power Project, for which Rs 2,646.64 crore of long-term project funding has been secured from REC Ltd, a government-backed infrastructure financing institution.
REC Ltd has been designated as the sole financier for this project, with the funding structured over a 20-year period. The funds are earmarked specifically for the development and construction of the 450MW/1800MWh FDRE project. The Power Purchase Agreement for this project has been signed with SJVN Limited, a central public sector enterprise under the Ministry of Power, at a fixed tariff of Rs 6.74 per unit, with the offtake arrangement in place for 25 years, providing long-term revenue visibility for this project.
The ACME Greentech Seventh project is structured as an Assured Peak Power solution, combining solar generation capacity with large-scale BESS integration. According to the press release, this technology combination is designed to meet supply obligations while ensuring higher predictability and dispatchability compared to conventional variable renewable energy sources. The project reflects ACME Solar's stated strategy of developing storage-integrated renewable assets capable of delivering round-the-clock or peak-hour power under contractual commitments.
Impact on Investors
Investors will note that the financial closure of Rs 2,646.64 crore from REC Ltd provides project-level debt certainty for the ACME Greentech Seventh FDRE project, removing a key execution risk associated with the funding phase. The disclosed terms indicate a 20-year loan tenure from a sole public sector lender alongside a 25-year PPA with SJVN Limited at Rs 6.74 per unit, which collectively establish long-term cash flow visibility at the project level. The filing shows that this project now has both its debt and offtake arrangements in place, which are critical milestones in the project development cycle for capital-intensive renewable energy assets.
Shareholders will observe that this project forms part of a larger under-construction contracted portfolio of 5,080 MW, including approximately 18 GWh of BESS. Since this is a project-level debt arrangement and not a corporate-level fund raise, the transaction does not involve equity dilution for existing shareholders. However, investors should note that project finance arrangements of this scale involve debt obligations at the special purpose vehicle or project entity level, and the financial health of such entities will have implications for the consolidated balance sheet of ACME Solar Holdings over the long term. Reviewing the consolidated financials and relevant debt disclosures in subsequent exchange filings would be pertinent for a fuller assessment.
Sector / Market Context
India's renewable energy sector has been expanding at a significant pace, with the government targeting 500 GW of non-fossil fuel-based installed capacity by 2030. FDRE or firm and dispatchable renewable energy projects have gained particular traction as grid operators and distribution companies seek alternatives to conventional thermal power that can also guarantee supply during peak demand hours. BESS-integrated solar projects are increasingly being mandated or preferred in public tenders as they address the intermittency challenges of standalone solar and wind generation.
REC Ltd, operating under the Ministry of Power, has been one of the primary institutional lenders for large renewable energy infrastructure in India, channelling long-term capital into the sector. SJVN Limited, the PPA counterparty in this project, is a central public sector enterprise with a growing renewable energy portfolio. The 25-year fixed-tariff PPA structure at Rs 6.74 per unit is consistent with the long-tenure, fixed-rate offtake agreements that have characterised FDRE project procurement in India, where tariff certainty is a key structuring element for project finance lenders.