Highlights
- ACME Solar has secured ₹2,646.64 crore in long-term project financing from REC Ltd.
- The funding will support the development of a 450 MW/1,800 MWh Firm and Dispatchable Renewable Energy (FDRE) project.
- The project operates under a 25-year Power Purchase Agreement (PPA) with SJVN Ltd at a tariff of ₹6.74 per unit.
ACME Solar Secures ₹2,646.64 Crore REC Funding for 450 MW FDRE Project
ACME Solar Holdings Limited has secured ₹2,646.64 crore in long-term project financing from REC Ltd for its ACME Greentech Seventh 450 MW/1,800 MWh Assured Peak Power Project. The financing will be used for the development and construction of the renewable energy project, marking another milestone in the company's expanding clean energy portfolio.
According to the company's press release issued on July 16, 2026, REC Ltd will act as the sole lender for the project with a financing tenure of 20 years, providing long-term capital support for project execution.
Funding to Support Construction of FDRE Project
The newly secured financing is earmarked for the construction of ACME Solar's Firm and Dispatchable Renewable Energy (FDRE) project. FDRE projects are designed to provide reliable electricity by combining renewable energy generation with energy storage, enabling power supply even when renewable generation fluctuates.
The ACME Greentech Seventh project integrates solar power generation with a Battery Energy Storage System (BESS), allowing the project to deliver assured peak power while improving predictability and dispatchability of renewable energy.
The company stated that the project financing will support the development and construction phase, with REC Ltd serving as the exclusive financial partner throughout the loan tenure.
Power Purchase Agreement Already in Place
The project is backed by a 25-year Power Purchase Agreement (PPA) signed with SJVN Limited. Under the agreement, power from the project will be supplied at a tariff of ₹6.74 per unit.
Having a long-term PPA in place provides revenue visibility for the project once it becomes operational, while the newly secured financing supports timely execution of the infrastructure.
What Investors Will Watch
For investors, the announcement highlights ACME Solar's continued access to long-term infrastructure financing for large renewable energy projects. Securing project funding is a key step between winning a project and moving into construction, reducing financing uncertainty for the asset.
Market participants are also likely to watch the progress of the 450 MW/1,800 MWh project, including construction milestones, execution timelines and eventual commissioning. The company's ability to convert its under-construction pipeline into operational assets remains an important metric for evaluating future growth.
In addition, investors may monitor how ACME Solar expands its battery energy storage portfolio as storage continues to play an increasingly important role in India's renewable energy ecosystem.
Why This Development Matters
The latest financing supports one of ACME Solar's large-scale FDRE projects, reflecting continued investment in renewable energy infrastructure that combines generation with storage.
As India's energy transition increasingly focuses on reliable renewable power, projects integrating solar generation and battery storage are becoming an important part of the country's clean energy expansion. Long-term financing arrangements and contracted power purchase agreements help provide the financial framework needed for developing such capital-intensive projects.
For ACME Solar, the funding strengthens execution of its project pipeline while supporting the development of infrastructure designed to deliver more reliable renewable power over the long term.
Frequently Asked Questions
Q1. How much funding has ACME Solar secured?
A: ACME Solar has secured ₹2,646.64 crore in long-term project financing from REC Ltd.
Q2. What is the funding meant for?
A: The funds will be used for the development and construction of ACME Solar's 450 MW/1,800 MWh Firm and Dispatchable Renewable Energy (FDRE) project.
Q3. Who is financing the project?
A: REC Ltd is the sole lender for the project and will provide financing over a 20-year tenure.
Q4. Does the project have a power purchase agreement?
A: Yes. The project has a 25-year PPA with SJVN Limited at a tariff of ₹6.74 per unit.
Q5. Why is this announcement important for investors?
A: The funding supports the execution of a major renewable energy project, demonstrates access to long-term infrastructure finance, and advances ACME Solar's pipeline of projects that combine renewable generation with battery energy storage.