REC funds ACME Solar’s 450 MW assured peak power project
ACME Solar Holdings Limited has secured long-term project financing of Rs 2,646.64 crore from REC Ltd for the ACME Greentech Seventh 450 MW/1800 MWh Assured Peak Power Project.
According to the company, REC Ltd will act as the sole lender for the project, with the financing structured over a tenure of 20 years. The funds will be used for the development and construction of the project.
Project details
The project is backed by a 25-year Power Purchase Agreement (PPA) signed with SJVN Limited at a tariff of Rs 6.74 per unit.
The ACME Greentech Seventh Assured Peak Power Project combines solar generation and Battery Energy Storage Systems (BESS) to deliver assured peak power. Such projects are designed to provide electricity during predefined peak demand periods, improving the predictability and dispatchability of renewable energy supply.
The project has a planned capacity of 450 MW, supported by 1,800 MWh of battery storage.
BESS commissioning
In a separate development, ACME Solar informed exchanges that ACME Suryodaya Private Limited commissioned 110.336 MWh of BESS capacity on July 15, 2026, at Sanwara and Mehar Nagar villages in Pokhran tehsil of Jaisalmer district, Rajasthan.
The Commercial Operation Date (COD) for the newly commissioned capacity has been fixed as July 17, 2026.
With the latest commissioning, ACME Suryodaya’s operational capacity has increased to 285 MW / 952.960 MWh.
Portfolio expansion
ACME Solar Holdings currently has a diversified renewable energy portfolio of 8,070 MW across solar, wind, storage, hybrid and FDRE projects.
Of this, the company has an operational contracted capacity of 2,990 MW and approximately 3.3 GWh of BESS capacity. Its under-construction contracted capacity stands at 5,080 MW, including around 18 GWh of BESS installations.
The company said that 3,580 MW of its under-construction portfolio has already been tied up under signed PPAs.
ACME Solar also maintains in-house engineering, procurement and construction (EPC) and operations and maintenance (O&M) capabilities, enabling it to undertake project development and asset management internally across its renewable energy portfolio.
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