ACEN India secures Rs 7,517 million financing for 100 MW wind project

ACEN India has achieved financial closure for its 100 MW wind power project in Bijapur, securing long-term project financing of Rs 7,517 million (approximately $90 million) from Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corporation. The project is now set to move into the construction phase, with commissioning targeted for 2027.

The project has a Power Purchase Agreement (PPA) in place with SJVN Limited, providing offtake visibility. Once operational, the wind facility is expected to generate around 330 million units annually and offset more than 250,000 tonnes of carbon emissions.

The financial closure follows ACEN’s recent move to consolidate full ownership of its renewable energy joint venture with UPC Renewables India. Through its subsidiary, ACEN Renewables International Pte. Ltd (ACRI), the company acquired the remaining stake, resulting in 100% ownership of an 819 MWac portfolio spanning operational, under-construction, and advanced-stage projects across Rajasthan and Karnataka.

With this, ACEN’s managed renewable portfolio in India now exceeds 1 GW, supported by a development pipeline of nearly 7 GW across multiple states.

The participation of Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corporation highlights continued interest from international lenders in India’s renewable energy sector, as the country advances toward its target of 500 GW of non-fossil fuel capacity by 2030.

The featured photograph is for representation only.