ACME Solar lands US$274.4m to power 450MW peak project
It combines renewable energy technologies.
ACME Solar has secured US$274.4m (₹26b) in funding for its ACME Greentech Seventh 450MW/1800MWh Assured Peak Power Project from REC Ltd.
According to a press release, it will use the funds for the development and construction of the project. REC Ltd will serve as the sole financer for 20 years.
The project combines renewable energy technologies, including Solar and battery energy storage systems, to meet the supply obligations and ensure higher dispatchability.
The PPA was signed with SJVN Limited at a tariff of US$0.07 (₹6.74) per unit for a period of 25 years.