The 20-year REC loan will fund a dispatchable renewable energy project connected to the interstate transmission network.
ACME Solar Holdings has secured ₹26.46 billion in long-term financing from REC Ltd to develop its 450MW/1,800MWh Assured Peak Power (firm and dispatchable renewable energy – FDRE) project, strengthening its renewable energy and battery storage portfolio.
The funding has been raised through ACME Greentech Seventh, a wholly owned project entity, and will be used to finance the construction and development of the project. REC is the sole lender, with the loan carrying a tenure of 20 years, the company said.
The project is supported by two 25-year power purchase agreements (PPAs) signed with SJVN Ltd in March 2026 after ACME Solar emerged as the successful bidder in SJVN’s Tranche-IV FDRE tender. The project will supply electricity at a tariff of ₹6.74 per unit.
Designed to deliver reliable renewable power during peak demand periods, the project combines solar generation with a battery energy storage system (BESS), enabling firm and dispatchable electricity even during non-solar hours. Under the PPAs, ACME Solar will provide four hours of assured peak power while maintaining 90 per cent monthly and annual availability.
The project will be connected to the inter-state transmission system (ISTS) and developed using ACME Solar’s existing transmission connectivity in Rajasthan, a region known for its high solar irradiation.
The financing marks another step in the company’s expansion across renewable energy and energy storage. ACME Solar currently has a diversified portfolio of 8070MW, spanning solar, wind, hybrid, battery storage and FDRE projects. Of this, 2990MW is operational, while 5080MW of contracted capacity is under various stages of construction.
The company is also developing approximately 18GWh of battery energy storage capacity. Including operational assets, its total storage portfolio stands at around 21.3GWh, comprising nearly 3.3GWh of operational contracted BESS capacity alongside projects under construction.
ACME Solar added that 3580MW of its under-construction renewable energy portfolio is backed by signed long-term power purchase agreements, providing revenue visibility as it scales its clean energy business.
