ACME Sun Power Secures Major Funding for Renewable Energy Expansion

ACME Sun Power, a subsidiary of ACME Solar Holdings, obtained a Rs 3,753-crore loan from REC Ltd. for a 320-MW firm and dispatchable renewable energy project in collaboration with SJVN. The project spans Rajasthan and Gujarat, aiding India's green energy transition and supporting discoms' obligations.

ACME Sun Power, a division of ACME Solar Holdings, has successfully procured a substantial Rs 3,753-crore term loan from REC Ltd., a state-owned financial institution.

The funding is designated for the development of a 320-MW firm and dispatchable renewable energy (FDRE) project in partnership with SJVN. This initiative is aimed at bolstering India's renewable energy capabilities.

Located in resource-rich areas of Jaisalmer, Rajasthan for solar and Bhuj and Jam Khambhaliya, Gujarat for wind energy, the project represents a significant advancement towards meeting renewable purchase and energy storage obligations for power distribution companies.

(With inputs from agencies.)