India, July 29 -- ACME Solar Holdings Ltd has secured Rs 3,404.57 crore in long-term project financing from Power Finance Corporation (PFC) for its ACME Urja One Pvt Ltd (Phase-III) 250 MW Firm and Dispatchable Renewable Energy (FDRE) project. PFC will be the sole lender for the project, providing funding with a repayment tenure of 19 years.
With this financing, ACME Solar's total project funding raised during the current fiscal has reached Rs 6,051 crore.
The project has a 25-year Power Purchase Agreement (PPA) with NHPC Ltd at a tariff of Rs 4.33 per unit, which has already received approval from both the Central and State regulators.
The 250 MW FDRE project integrates solar, wind, and Battery Energy Storage System (BESS) technologies ...