ACME Solar secures Rs 1,571-cr funding for 300 MW Rajasthan project

ACME Solar Holdings announced that it has secured Rs 1,571 crore in long-term project funding from India Infrastructure Finance Company (IIFCL) for the construction and development of its 300 MW assured peak power project in Rajasthan.

The company said the project financing, secured at a competitive interest rate, marks IIFCL?s first sole greenfield financing for ACME Solar. IIFCL is the sole lender for the project, with a repayment tenor of 19 years.

The funding takes the total financing secured by ACME Solar during the current financial year to Rs 10,976 crore. The power purchase agreement (PPA) for the project has been executed with Solar Energy Corporation of India (SECI) for 25 years at a tariff of Rs 6.28 per unit.

The ACME Greentech Seventh assured peak power project combines multiple renewable energy technologies, including solar and battery energy storage system (BESS), to meet the supply obligations under its PPA and ensure greater predictability and dispatchability of power. The project entails a total capex of Rs 2,123 crore and forms part of ACME Solar?s broader battery-storage capital deployment programme for the current financial year.

According to the company, the project is progressing on a strong execution footing, with grid connectivity already operational, while the pooling substation and dedicated transmission line are at advanced stages of completion. Land for the project site has also been substantially secured, positioning the project for timely construction.

The plant will integrate a 1,350 MWh BESS alongside solar generation, enabling assured peak power supply under its PPA. Like ACME Solar?s other assured peak power projects, the asset is being developed entirely within Rajasthan, reinforcing the state?s growing role as a hub for the company?s hybrid renewable capacity.

ACME Solar is an integrated renewable energy company with a diversified portfolio of 8,370 MW across solar, wind, hybrid, storage and FDRE projects. It has an operational contracted capacity of 2,990 MW, around 3.62 GWh of BESS capacity and 5,380 MW of contracted capacity under construction.

On a consolidated basis, the company?s net profit rose 79.87% to Rs 235.33 crore in the quarter ended June 2026 from Rs 130.83 crore in the quarter ended June 2025. Sales increased 67.81% to Rs 857.48 crore in the June 2026 quarter from Rs 510.98 crore in the June 2025 quarter.

The counter shed 0.92% to Rs 392 on the BSE.

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