ACME Solar Holdings announced its arm ACME Sun Power has secured INR 3,753 crore term loan financing from REC Ltd for the development and construction of 320 MW of firm and dispatchable renewable energy (FDRE) projects in collaboration with SJVN.
The solar component of the project would be located in Jaisalmer, Rajasthan, and the wind component in Bhuj and Jam Khambhaliya, Gujarat. The project benefits from a power purchase agreement (PPA) secured with SJVN and the grid connectivity has also been secured. The land acquisition process is in advanced stages.
REC Ltd will serve as the sole lender for this project. Recently, another FDRE project, ACME Surya Power secured project financing for a 250 MW FDRE project from REC Ltd.
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