New Delhi, Sept. 11 -- Shares of ACME Solar Holdings gained 5.3% to Rs.318 apiece in Thursday's intraday trade, September 11, after its wholly owned subsidiary, ACME Venus Urja, secured long-term project funding of Rs.3,892 crore from the State Bank of India for the development and construction of a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project, with repayment spread across 19 years.

The FDRE project is being developed in Barmer, Rajasthan, and is contracted with NHPC, ACME Solar Holdings said in a statement on Thursday.

The company signed a 25-year Power Purchase Agreement (PPA) with NHPC at a tariff of Rs.4.64/unit. The project combines multiple renewable energy technologies, including solar and Battery Energy Storage S...