ACME Solar Secures ₹1,988 Crore Funding for 300 MW Hybrid Renewable Energy Project

ACME Solar Holdings Ltd has taken a significant step in expanding its renewable energy portfolio by securing ₹1,988 crore financing from Power Finance Corporation (PFC). This funding will be utilized to develop a cutting-edge 300 MW hybrid renewable energy project that integrates both solar and wind power generation. – ACME Solar Secures ₹1,988 Crore

Details of the Hybrid Renewable Energy Project – ACME Solar Secures ₹1,988 Crore

Location:
- Solar power capacity: Bikaner, Rajasthan.
- Wind power generation: Bhuj, Gujarat.
Key Milestones Achieved:
- Land acquisition for the solar component is 100% complete.
- Grid connectivity is in place.
- Power Purchase Agreement (PPA) signed with NTPC.
Timeline: The project is expected to be operational by June 2025.

New 300 MW Solar Project Under SECI-ISTS XVIII Scheme – ACME Solar Secures ₹1,988 Crore

ACME Solar has also been awarded a 300 MW solar power project under the prestigious SECI-ISTS XVIII scheme at a competitive tariff of ₹3.05 per unit. To execute this project, the company plans to reallocate resources from its ongoing ACME Sikar project in Rajasthan. This will allow efficient use of the existing grid infrastructure at Bikaner-2.

Key Benefits for SECI Project – ACME Solar Secures ₹1,988 Crore

The project qualifies for an Inter-State Transmission System (ISTS) waiver, a significant advantage for renewable energy projects commissioned by mid-2025.

ACME’s Commitment to Renewable Energy Growth – ACME Solar Secures ₹1,988 Crore

These initiatives underscore ACME Solar’s commitment to supporting India’s renewable energy transition through innovative projects that maximize efficiency and sustainability. With its focus on hybrid and solar solutions, ACME Solar continues to play a pivotal role in shaping a greener future.

Why This Matters for India’s Renewable Energy Goals

The 300 MW hybrid renewable energy project and the SECI solar initiative align with India’s ambitious target of achieving 500 GW of renewable energy capacity by 2030. ACME Solar’s projects demonstrate a perfect blend of innovation, resource optimization, and timely execution, setting benchmarks for the renewable energy industry.