ACME Solar Holdings has secured ₹1,571 crore in long-term project financing from India Infrastructure Finance Company Limited (IIFCL) for the development of its 300 MW assured peak power project in Rajasthan.
The financing marks IIFCL’s first sole greenfield financing for ACME Solar, with IIFCL serving as the sole lender. The loan carries a 19-year repayment tenor and was secured at a competitive interest rate. With this funding, ACME Solar’s total financing secured during the current financial year has reached ₹10,976 crore.
The project has a 25-year PPA with SECI at ₹6.28 per unit and will integrate solar generation with a 1,350 MWh Battery Energy Storage System (BESS) to provide assured peak power with greater predictability and dispatchability.
The project involves an estimated ₹2,123 crore capital expenditure and forms part of ACME Solar’s broader battery-storage deployment programme for the current financial year.
