ACME Solar Holdings Ltd has secured INR 1,571 crore in long-term debt from IIFCL for its 300 MW 'ACME Renewtech Sixth' project in Rajasthan. The project includes a 1,350 MWh battery storage system and is backed by a 25-year Power Purchase Agreement with SECI. This funding brings the company's total capital raised this fiscal year to over INR 10,900 crore, supporting its transition toward advanced hybrid and peak power energy solutions.
ACME Solar Secures INR 1,571 Crore Project Finance
Funding: INR 1,571 crore secured from IIFCL for 300 MW Rajasthan power project.
Project Capex: Total project cost is estimated at INR 2,123 crore with a 19-year repayment tenor.
Reader Takeaway: Strong revenue visibility via 25-year PPA; project execution speed is key for margin realization.
What just happened
ACME Solar Holdings Ltd has successfully secured INR 1,571 crore in long-term financing from India Infrastructure Finance Company Ltd (IIFCL). This capital is specifically earmarked for the 'ACME Renewtech Sixth' 300 MW assured peak power project located in Rajasthan. IIFCL is acting as the sole financier for this greenfield development, marking a significant milestone in the company's capital raising efforts this year.
Why this matters
The project is a crucial part of ACME’s strategy to deliver round-the-clock renewable energy. It incorporates a massive 1,350 MWh Battery Energy Storage System (BESS) alongside solar generation. With a 25-year Power Purchase Agreement (PPA) signed with SECI Limited at a tariff of INR 6.28/unit, the company ensures long-term cash flow predictability.
Operational Status
The project is currently in the active construction phase. Crucially, the company has confirmed that grid connectivity is already operational. Construction of the Pooling Substation and dedicated transmission infrastructure is nearing completion, and the land required for the site has been substantially secured.
Context Metrics
This latest financing brings ACME Solar's total funding secured in the current fiscal year to INR 10,976 crore. The company currently oversees a portfolio of 8,370 MW, with 2,990 MW already operational and 5,380 MW under various stages of construction.
What to track next
Investors should monitor the timeline for project commissioning. As the site moves from construction to operational status, the efficiency of the integrated BESS and the ability to maintain the assured peak power supply will be the primary drivers for long-term project viability.