India, Sept. 11 -- ACME Venus Urja Private Limited, a wholly owned subsidiary of ACME Solar Holdings Limited, has obtained long-term project funding of Rs 3,892 crore from the State Bank of India (SBI) for the development and construction of a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project. The loan repayment will be spread over 19 years.
This marks ACME's largest financing from SBI to date and also represents SBI's first funding for ACME's FDRE projects.
The project, being developed in Barmer, Rajasthan, has been contracted with NHPC at a tariff of Rs 4.64 per unit. It will integrate solar power with a Battery Energy Storage System (BESS) to meet supply obligations and ensure greater dispatchability in line with the Power P...