Juniper Green and ACME secure financing for renewable projects

Juniper Green Energy has received debt financing of Rs 17.39 billion from the Indian Renewable Energy Development Agency Limited (IREDA). The funding will support the company and its subsidiaries in scaling renewable energy projects and expanding operational capacity. This follows Juniper’s $1 billion debt raise earlier in 2024 from IREDA, Power Finance Corporation Limited, DBS Bank, and HSBC Bank.

Separately, ACME Hybrid Urja Private Limited, a wholly owned subsidiary of ACME Solar Holding Limited, has secured long-term project financing of Rs 31.84 billion from REC Limited for a 280 MW firm and dispatchable renewable energy project contracted with NHPC Limited. REC Limited will provide financing for 18 years.

The project, backed by a 25-year power purchase agreement with NHPC Limited at a tariff of Rs 4.44 per unit, combines solar and battery energy storage systems to ensure greater predictability and dispatchability. It targets a minimum annual capacity utilisation factor of 40 per cent and 100 per cent peak-hour availability on a monthly basis.