ACME Solar secures PFC funding for 250 MW FDRE project
ACME Solar Holdings Limited has secured long-term project funding of Rs 3,404.57 crore from Power Finance Corporation Limited (PFC) for its 250 MW Firm and Dispatchable Renewable Energy (FDRE) project being developed through ACME Urja One Private Limited (Phase-III).
PFC is the sole financier for the project, with the debt carrying a repayment tenor of 19 years. ACME Solar’s total project funding raised during the current fiscal has reached Rs 6,051 crore, including the more than Rs 6,000 crore of debt tied up for 700 MW of under-construction FDRE projects announced earlier in the quarter.
Project details
The ACME Urja One Phase-III project combines solar and wind generation with a Battery Energy Storage System (BESS), providing a mix of renewable energy resources and storage to improve the predictability and dispatchability of power supply.
The project will have facilities at Fategarh-II in Jaisalmer, Rajasthan, and Jamkhambhaliya in Devbhumi Dwarka, Gujarat. Land and connectivity for the project are already in place, and commissioning is expected next year.
ACME Solar has signed a 25-year Power Purchase Agreement (PPA) with NHPC Limited for the project at a tariff of Rs 4.33/unit. The tariff has been approved and adopted by Central and State Regulators.
Financials
ACME Solar reported consolidated total revenue of Rs 954 crore for the quarter ended June 30, 2026, up 63.3% year-on-year, while Profit After Tax (PAT) increased 80% to Rs 235 crore. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose 56.5% to Rs 831 crore during Q1 FY27.
The featured photograph is for representation only.
