ACME Bags Rs 1,571 Cr from IIFCL for Rajasthan Project

ACME Solar Holdings has secured Rs 1,571 crore in long-term project financing from the India Infrastructure Finance Company (IIFCL) for its 300 MW assured peak power project in Rajasthan. This milestone marks IIFCL's first sole greenfield financing for the company, featuring competitive rates and a flexible repayment tenor. Backed by a 25-year Power Purchase Agreement (PPA) with SECI, the project integrates solar generation with a Battery Energy Storage System (BESS) to deliver dispatchable peak power. This latest tranche brings ACME Solar's total financing secured this financial year to Rs 10,976 crore.

News by Rahul Yelligetti.