REC Ltd finances Rs 2,646.64 crore project funding for ACME Solar FDRE Project

Gurugram, 16th July, 2026: Solar company, ACME Solar has secured Rs 2,646.64 crore long-term project funding for its ACME Greentech Seventh 450 MW/1800 MWh Assured Peak Power Project from State-run NBFC, REC Ltd. The company will deploy these funds for the development & construction of this project. REC Ltd will serve as the sole financer for this project for 20 years.

The PPA (Power Purchase Agreement) for this project was signed with public sector hydropower giant SJVN Limited at a tariff of INR 6.74/unit for a period of 25 years. The ACME Greentech Seventh Assured Peak Power Project combines multiple renewable energy technologies, including solar and battery energy storage systems (BESS), to meet the supply obligations and ensure higher predictability and dispatchability.

ACME Solar Holdings Limited is a leading integrated renewable energy player with a diversified portfolio of 8,070 MW spanning solar, wind, storage, FDRE, and hybrid solutions and an operational contracted capacity of 2,990 MW and 3.3 GWh of BESS capacity and under construction contracted capacity of 5,080 MW, including 18 GWh of BESS installation.