New Delhi: Government-backed NBFC REC Limited has sanctioned long-term project funding of ₹3,184 crore to ACME Hybrid Urja Private Limited, a wholly-owned subsidiary of ACME Solar Holdings Limited. The funds will be used for the development and construction of a 280 MW Firm and Dispatchable Renewable Energy (FDRE) project, backed by NHPC Limited.
Sole Lender for a Landmark Renewable Project
REC will act as the sole lender, providing financing for 18 years. This marks the third financing by REC for ACME Solar’s FDRE projects in 2025, following earlier funding for two other projects with a combined capacity of 570 MW.
The 280 MW project has a 25-year Power Purchase Agreement with NHPC at a tariff of ₹4.64 per unit. It integrates solar power generation with a Battery Energy Storage System (BESS) to ensure round-the-clock supply and operational reliability.
Advancing India’s Clean Energy Transition
Designed to achieve a minimum annual Capacity Utilisation Factor (CUF) of 40% and 90% peak hour availability each month, the project will significantly contribute to reducing greenhouse gas emissions. It also aligns with the Government of India’s net-zero carbon emission target.
REC’s continued support for ACME Solar reflects growing investor confidence in India’s renewable energy sector and reaffirms the company’s role in financing projects that advance sustainable energy solutions.
About REC Limited
REC Limited is a Maharatna Public Sector Enterprise under the Ministry of Power. Incorporated in 1969, it is a leading NBFC providing long-term financial assistance to the power sector, including generation, transmission, distribution, and renewable energy projects. Headquartered in Gurugram, REC plays a pivotal role in powering India’s infrastructure growth and clean energy transition.
Also Read: CSR Initiative: REC Limited Sanctions Rs6.22 Crore for Advanced Computer Lab at Bodoland University
