Gurugram: ACME Venus Urja Private Limited, a wholly owned subsidiary of ACME Solar Holdings Limited, has announced the successful closure of long-term project financing worth ₹3,892 crore from the State Bank of India (SBI). The funds will be used for the development and construction of a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project in Barmer, Rajasthan.
This marks ACME’s largest financing deal with SBI to date and also represents SBI’s first investment in an FDRE project by the company. The loan tenure is spread across 19 years, underscoring the long-term commitment to sustainable energy infrastructure.
The Barmer-based project is contracted with NHPC at a tariff of ₹4.64 per unit and will feature a hybrid setup combining solar generation with a Battery Energy Storage System (BESS). This configuration is designed to meet supply obligations and enhance dispatchability in line with Power Purchase Agreement (PPA) conditions.
The FDRE model is expected to play a pivotal role in India’s energy transition, offering reliable and clean power while addressing intermittency challenges typically associated with renewable sources.
This strategic funding reinforces ACME’s position as a key player in India’s renewable energy sector and highlights SBI’s growing commitment to financing green infrastructure.
