Gurugram-based ACME Hybrid Urja, a wholly-owned subsidiary of ACME Solar Holding has obtained long-term project financing of Rs 3,184 crore from RE for its 280 MW Firm & Dispatchable Renewable Energy (FDRE) project contracted with NHPC.

REC will act as the sole lender, offering an 18-year loan, marking its third financing for ACME Solar’s FDRE portfolio after two earlier projects totalling 570 MW. The project, backed by a 25-year power purchase agreement with NHPC at a tariff of Rs 4.64/unit, integrates solar power and a battery energy storage system (BESS) to ensure higher reliability.

Designed for a minimum annual CUF of 40 percent and monthly peak availability of 90 percent, it will significantly reduce GHG emissions. ACME Solar stated that this milestone underscores lender confidence in its execution capabilities and supports India’s renewable energy goals. The initiative reflects strong momentum in the clean energy sector, aligned with the government’s targets for sustainable and scalable energy solutions.