ACME Solar Holdings (ACME Solar) has secured Rs 3,404.57 crore long-term project funding for its ACME Urja One (Phase – III) 250 MW FDRE project from Power Finance Corporation (PFC) for the development & construction of the project.

PFC will serve as the sole financer for this project with a repayment tenor of 19 years.

The current funding milestone takes the overall project funding raised by the company during this fiscal to Rs 6,051 crore.

The PPA for this project was signed with NHPC for a period of 25 years at a tariff of Rs 4.33/unit. The tariff is already approved and adopted by Central and State Regulator.

The ACME Urja One (Phase-III) FDRE project combines multiple renewable energy technologies including Solar, Wind and Battery Energy Storage System (BESS) to meet the supply obligations and, ensures higher predictability and dispatchability. It spans across Fategarh-II in Jaisalmer, Rajasthan and Jamkhambhaliya in Devbhumi Dwarka, Gujarat with necessary land and connectivity already in place. The development of this project is progressing on schedule and is expected to be commissioned next year.