ACME Venus Urja Private Limited, a fully owned subsidiary of ACME Solar Holdings Limited, has obtained Rs 38.92 billion in project funding from the State Bank of India (SBI). The funding has been secured for the development and construction of a 400 MW firm and dispatchable renewable energy (FDRE) project situated in Rajasthan. The repayment of the funding is spread across 19 years.
Furthermore, the project is contracted with NHPC at a tariff of Rs 4.64 per unit. The scope of work for the project consists of the installation of solar and battery energy storage system.
Earlier this month, Acme Solar executed a share purchase agreement to completely acquire equity shares of AK Renewable Infra.
Furthermore, in the same month, ACME Solar secured a letter of award for a 50 MW FDRE project at a tariff of Rs 4.43 per unit.
