Acme Solar Holdings Limited — Updates, 26-12-2024: Press Release

ACME Solar Holdings Limited has secured ₹1,988 Cr in financing from Power Finance Corporation to develop a 300 MW Solar-Wind Hybrid Renewable Energy Project in Rajasthan and Gujarat. The project, involving a signed Power Purchase Agreement (PPA) with NTPC, is positioned in high-resource potential areas, with grid connectivity already established and land fully procured. The financing arrangement features an optimal debt-to-equity ratio of 80:20.

Additionally, ACME Solar has been awarded a 300 MW Solar Power Project under the SECI-ISTS XVIII scheme at a competitive tariff of ₹3.05 per unit, set to commence operations by June 30, 2025. This will leverage existing infrastructure from the under-construction ACME Sikar project, facilitating capital efficiency and benefitting from government incentives for early operationalization. Overall, these developments highlight a robust growth trajectory for ACME Solar, positioning it favorably within the renewable energy landscape. Investors should monitor these advancements closely for potential value creation.