India, Aug. 27 -- ACME Solar Holdings has secured Rs 1,571 crore in long-term project financing from India Infrastructure Finance Company Ltd (IIFCL) for the development of its 300 MW assured peak power project in Rajasthan.
The financing has a 19-year repayment tenor, with IIFCL acting as the sole lender. This marks IIFCL's first standalone greenfield financing for ACME. With this funding, ACME Solar's total financing secured during the current financial year has reached Rs 10,976 crore.
The project has a 25-year power purchase agreement (PPA) with SECI at a tariff of Rs 6.28 per unit and involves an estimated capex of Rs 2,123 crore. It will combine solar generation with a 1,350 MWh battery energy storage system (BESS) to provide assure...