World · India Bureau
ACME Solar secures ₹1,571 crore IIFCL funding for Rajasthan solar project
The Infrastructure Investment Finance Company Limited will serve as the sole lender for ACME Solar's 300 MW renewable energy facility in Rajasthan, with a repayment period extending across 19 years.
LSN India ·
ACME Solar has secured ₹1,571 crore in financing from the Infrastructure Investment Finance Company Limited (IIFCL) to develop a 300 MW solar power generation project in Rajasthan. The development financing marks a significant investment in India's renewable energy infrastructure, with IIFCL acting as the sole lender for the initiative.
The total project outlay is estimated at ₹2,123 crore, with the IIFCL funding covering a substantial portion of capital requirements. The financing structure includes a 19-year repayment tenure, providing ACME Solar with extended financial flexibility to service debt obligations throughout the project's operational life.
A key feature of the development is the integration of a 1,350 MWh battery energy storage system alongside the solar generation capacity. The storage component will enhance grid stability and enable the facility to supply power during non-peak solar generation hours, improving the overall reliability and commercial viability of the installation.
The Rajasthan project aligns with India's renewable energy expansion targets and the government's push toward achieving increased solar capacity additions. Battery storage integration represents an evolving trend in India's solar sector, addressing grid management challenges while maximizing asset utilization.