ACME Solar Secures INR26.5 Billion Financing from REC for Renewable Energy Project
ACME Solar (NSE:ACMESOLAR, BOM:544283) secured 26.5 billion rupees in long-term project financing from REC (NSE:RECLTD, BOM:532955) for its 450 megawatt/1,800-megawatt-hour firm and dispatchable renewable energy project, according to a Thursday exchange filing. The funding will be used to develop and construct the project, with REC serving as the sole lender over a 20-year term. The project will supply power to SJVN (NSE:SJVN, BOM:533206) under a 25-year power purchase agreement at a tariff of 6.74 rupees per unit.
ACME Solar (NSE:ACMESOLAR, BOM:544283) secured 26.5 billion rupees in long-term project financing from REC (NSE:RECLTD, BOM:532955) for its 450 megawatt/1,800-megawatt-hour firm and dispatchable renewable energy project, according to a Thursday exchange filing.
The funding will be used to develop and construct the project, with REC serving as the sole lender over a 20-year term.
The project will supply power to SJVN (NSE:SJVN, BOM:533206) under a 25-year power purchase agreement at a tariff of 6.74 rupees per unit.