Investment17 Nov 2024, 06:09 pm
ACME Solar Secures Rs. 3753 Crore Loan from REC Limited for FDRE Projects in Rajasthan and Gujarat
AI Summary
ACME Sun Power Private Limited, a subsidiary of ACME Solar Holdings Limited, has secured a Rs. 3753 crore term loan financing from REC Limited for the development & construction of a 320 MW Firm and Dispatchable Renewable Energy (FDRE) projects in collaboration with STVN. The projects will be located in high resource potential areas in Rajasthan and Gujarat. Power Purchase Agreement has been signed with SJVN and the grid connectivity has been secured. The land acquisition process is in advanced stages. REC Limited will serve as the sole lender for this project, highlighting its confidence in ACME Solar’s project execution capabilities.
Key Highlights
- ACME Solar Holdings Limited secures Rs. 3753 Crore loan from REC Limited for FDRE projects in Rajasthan and Gujarat.
- The loan is for the development & construction of a 320 MW FDRE projects in collaboration with STVN.
- The projects will be located in high resource potential areas in Rajasthan and Gujarat.
- Power Purchase Agreement has been signed with SJVN and the grid connectivity has been secured.
- REC Limited, expressing confidence in ACME Solar’s project execution capabilities, will serve as the sole lender for this project.