India’s clean energy landscape just marked another milestone as ACME Solar secured a substantial $363.29 million from Rural Electrification Corp (REC) to finance the country’s pioneering 280 MW solar + battery energy storage system (BESS) project. Structured as an 18-year term loan, this financing marks REC’s third support for ACME’s FDRE (Firm and Dispatchable Renewable Energy) projects in 2025 alone—cementing their strategic collaboration to deliver reliable, sustainable energy at scale.

Setting a New Benchmark in Dispatchable Renewable Power
What sets this project apart is its unique architecture—a fusion of solar power and battery energy storage to deliver firm and dispatchable renewable electricity. Spearheaded by ACME Hybrid Urja Private Ltd, a subsidiary of ACME Solar Holdings, the system is designed to ensure a minimum annual Capacity Utilization Factor (CUF) of 40% and 90% availability during peak hours every month.

This performance is backed by a 25-year Power Purchase Agreement (PPA) signed with NHPC at a fixed tariff of $52.94/MWh, offering long-term revenue stability. By integrating storage, the project addresses a critical limitation of solar power—intermittency—enabling predictable energy delivery even during periods of low generation or high demand.

A Giant Leap in India’s Renewable Journey
ACME Solar has firmly established itself as one of India’s top renewable independent power producers, boasting 2.89 GW of operational capacity, 4.08 GW under construction, and 550 MWh of standalone BESS capacity. This new 280 MW hybrid project significantly advances the country’s ambition to move toward firm renewable generation while reducing reliance on fossil-based peaking power.

As India accelerates its decarbonization goals, firm renewables—once seen as a technical aspiration—are becoming tangible through projects like these. REC’s continued trust and funding support reflect the confidence in ACME’s execution capabilities and in the scalable potential of hybrid technologies in India’s energy future.