Announced Thu, 16 Jul · 08:33 IST
ACME Solar raises Rs 2,646 crore funding for 450MW FDRE project from REC
Compliance View source PDF
ACMESOLAR · price
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Price reaction · full curve 14 horizons · vs prior close
-2.6%1-day move
₹389.55
prior close
₹396.00
base price
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AI summary
ACME Solar has secured Rs 2,646.64 crore long-term project funding from REC Ltd for its 450MW/1800MWh FDRE project named ACME Greentech Seventh. REC Ltd is the sole financier for 20 years. The PPA was signed with SJVN Limited at a tariff of Rs 6.74 per unit for 25 years. The project combines solar and battery storage. Total company portfolio stands at 8,070 MW with 2,990 MW operational and 5,080 MW under construction.
Likely market impact
Large long-term funding from REC secures a key FDRE project; 25-year PPA with SJVN at Rs 6.74/unit boosts revenue visibility.