Synopsis:
ACME Solar secured ₹3,184 crore from REC Ltd for a 280 MW solar-plus-battery project with NHPC. The project supports India’s clean energy goals and marks REC’s third investment in ACME’s FDRE initiatives.
The shares of Renewable Energy stock, which specializes in large-scale solar power generation and provides clean energy solutions, jumped upto 3 percent upon securing funding from REC Ltd for its 280 MW renewable energy project with NHPC.
With a market capitalization of 17,544.52 Crores on Wednesday, the shares of Acme Solar Holdings Ltd jumped upto 2.7 percent, making a high of Rs. 293.95 compared to its previous close of Rs. 286.15.
ACME Solar Holdings Limited, through its wholly owned subsidiary ACME Hybrid Urja Private Limited, has secured long-term project financing of Rs. 3,184 crore from REC Limited for the development of a 280 MW Firm & Dispatchable Renewable Energy (FDRE) Project contracted with NHPC.
REC Limited, acting as the sole lender, will provide financing for 18 years, marking its third such funding initiative for ACME’s FDRE projects this year, reinforcing strong lender confidence in ACME’s project execution capabilities.
The project, backed by a 25-year Power Purchase Agreement with NHPC at a tariff of Rs. 4.64 per unit, integrates solar power with a Battery Energy Storage System to ensure a reliable and predictable energy supply, designed to deliver a minimum annual capacity utilization factor of 40% and 90% peak hour availability monthly.
This initiative supports India’s renewable energy transition by reducing greenhouse gas emissions and demonstrates growing investor trust in the country’s clean energy sector, aligning with national goals to expand sustainable energy infrastructure.
Financials & Others
The company’s revenue rose by 71 percent from Rs. 340.01 crores to Rs. 583.99 crores in Q1FY25-26. Meanwhile, Net profit rose from Rs. 1.39 crores to Rs. 130.83 crores in the same period.
ACME Solar Holdings Limited is one of India’s largest and most prominent renewable energy independent power producers (IPPs), managing a diverse portfolio across solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects.
The company specializes in the development, construction, ownership, operation, and maintenance of large-scale renewable energy solutions, leveraging in-house engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) capabilities.
In the recent quarter, they secured their maiden standalone Battery Energy Storage System (BESS) project of 550 MWh from NHPC and signed fresh PPAs totaling 550 MW (including 250 MW FDRE and 300 MW solar) along with 550 MWh BESS. The company also commissioned four 300 MW SECI ISTS projects, all rated CRISIL AA-/Stable. Financially.
It has also commissioned 350 MW in Q1 FY26, including 300 MW solar at Acme Sikar (contracted with SECI) and 50 MW wind at Acme Pokhran (contracted with GUVNL). Additionally, the 100 MW Acme Eco Clean wind project is in advanced stages of construction.
The company aims to scale its portfolio to 10 GW of generation capacity and 15 GWh of BESS by 2030. Currently, it has around 10 GWh of BESS capacity under construction through FDRE projects and an additional 550 MWh from standalone BESS projects.
Written by Sridhar J
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