Acme Photo voltaic Holdings on Thursday stated it has raised Rs 1,988 crore from state-owned Energy Finance Company (PFC) to fund a 300 MW hybrid venture awarded to the corporate by way of a SECI public sale.
The venture might be situated in high-resource potential areas, with photo voltaic capability to be developed in Bikaner, Rajasthan, and wind websites in Bhuj, Gujarat, Acme Photo voltaic Holdings stated in an announcement.
“ACME Renewtech Pvt Ltd, a subsidiary of Acme Photo voltaic Holdings, has efficiently secured Rs 1,988 crore in time period mortgage financing from PFC to fund the event and development of a 300 MW solar-wind hybrid renewable power venture,” the corporate stated.
An influence buy settlement (PPA) has already been signed with NTPC, and grid connectivity for the venture is in place, it added.
The land for the photo voltaic capability has been totally procured.
Acme Photo voltaic additional stated it secured one other 300 MW solar energy venture underneath the SECI-ISTS XVIII scheme at a tariff of INR 3.05 per unit. The venture is required to start operations on or earlier than June 30, 2025, as per the PPA phrases.
