ACME Group and Stavian Industrial Metal have executed a binding term sheet for the long-term sale and purchase of 0.8 million tonnes per annum (MTPA) of green hot briquetted iron (HBI) and direct reduced iron (DRI) on a take-or-pay/supply-or-pay basis. The agreement will remain in effect for a period of 10 years.
The term sheet will be succeeded by an offtake agreement, under which ACME Group will make the delivery from its planned 1.2 MTPA green HBI and DRI facility (Phase 1). The green HBI/DRI will be supported by renewable energy and green hydrogen sources. Furthermore, the green hydrogen for the project will be supplied from ACME Group’s green hydrogen facility, which is currently under construction.
Earlier in September 2025, ACME Solar Holdings Limited bagged Rs 11 billion domestic financing from the State Bank of India (SBI) to refinance the existing debt of its 300 MW renewable energy project in Rajasthan.
Furthermore, in the same month, ACME Venus Urja Private Limited, a fully owned subsidiary of ACME Solar Holdings Limited, obtained Rs 38.92 billion in project funding from the SBI.
