ACME Solar Raises ₹1,571 Crore From IIFCL For Rajasthan Power Project
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ACME Solar has secured ₹1,571 crore in long-term funding from IIFCL for its 300 MW assured peak power project in Rajasthan. The project will combine solar generation with a 1,350 MWh battery storage system and has a 25-year PPA with SECI at ₹6.28 per unit.
ACME Solar Holdings Ltd (ACME Solar) has raised ₹1,571 crore from India Infrastructure Finance Company Ltd (IIFCL) for a 300 megawatt (MW) assured peak power project in Rajasthan.
The loan is for 19 years, and IIFCL will be the sole lender. It is also the first time the infrastructure financier has provided sole greenfield funding for an ACME Solar project. With this deal, ACME Solar's financing secured during the current financial year has reached ₹10,976 crore.
Rajasthan Project To Have 1,350 MWh Battery Storage
The project is being developed with a mix of solar power and battery storage. A 1,350 megawatt-hour (MWh) battery energy storage system (BESS) will be installed along with the solar capacity.
The project has a total estimated cost of ₹2,123 crore. ACME Solar has already signed a 25-year power purchase agreement (PPA) with Solar Energy Corporation of India (SECI). The tariff under the agreement is ₹6.28 per unit.
The battery system will help the plant supply power during periods of peak demand. This is important for the project, as its PPA requires assured power delivery rather than electricity only when solar generation is available.
ACME Solar said the project is part of its wider investment in battery-backed renewable energy capacity this financial year.
Work Progresses At Project Site
Several parts of the project are already in place. Grid connectivity is operational, while construction of the pooling substation and dedicated transmission line is at an advanced stage.
Most of the land required for the project has also been secured, according to the company.
The project is one of ACME Solar's assured peak power assets being developed in Rajasthan. The state has become an important location for the company's hybrid renewable energy projects.
About ACME Solar
ACME Solar has a total portfolio of 8,370 MW across solar, wind, storage, FDRE and hybrid projects. Its operational contracted capacity stands at 2,990 MW, along with around 3.62 gigawatt-hours (GWh) of battery storage capacity.
The company has another 5,380 MW of contracted capacity under construction. Of this, projects totalling 4,010 MW have signed PPAs.
ACME Solar also has its own engineering, procurement and construction (EPC) and operations and maintenance (O&M) teams. The company handles the development and operation of its renewable energy projects through these in-house capabilities.
At 10:40 AM on Thursday, 27 August 2026, ACME Solar Holdings shares were trading for ₹391.65 apiece at the National Stock Exchange (NSE).
Also Read - Sembcorp's Indian Renewable Arm Files For ₹3,750 Crore IPO
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
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