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ACME Venus Urja, part of ACME Solar Holdings, has secured INR 3,892 crore from the State Bank of India to develop a 400 MW Firm and Dispatchable Renewable Energy project in Barmer, Rajasthan. Scheduled to be repaid over 19 years, the financing will support the installation of solar panels and a Battery Energy Storage System to maintain reliable power supply under a contract with NHPC at INR 4.64 per unit. This represents ACME's largest SBI funding and SBI's first investment in ACME's FDRE projects. The company has a 2,890 MW operational capacity across diverse renewable energy solutions.
ACME Venus Urja, a wholly-owned subsidiary of ACME Solar Holdings, has obtained long-term project financing of INR 3,892 crore from the State Bank of India to develop and construct a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project. The repayment of this financing is scheduled over 19 years, according to a company statement issued earlier this week. Advertisement
The FDRE project is being established in Barmer, Rajasthan, and is contracted with NHPC at a tariff of INR 4.64 per unit. The project will involve the installation of solar panels along with a Battery Energy Storage System (BESS) to ensure reliable power supply and meet dispatch obligations under the Power Purchase Agreement (PPA). The combination of solar and storage systems will provide higher flexibility and maintain consistent energy delivery.
This financing marks ACME Solar's largest funding from the State Bank of India and also represents SBI's first support for ACME's FDRE initiatives. It highlights growing confidence in the potential of dispatchable renewable energy projects, which are designed to provide stable power even when solar generation fluctuates.
ACME Solar Holdings is one of India?s leading integrated renewable energy companies, with a diversified portfolio that spans solar, wind, storage, FDRE, and hybrid energy solutions. The company currently has an operational capacity of 2,890 MW across its projects. Over the years, ACME has undertaken several large-scale renewable energy projects in India, building experience in both grid-connected and storage-enabled systems.
Source PTI
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