ACME Solar Holdings stock in focus after securing Rs 1,988 crore financing, 300MW project win
ACME Solar Holdings shares may grab attention on Friday as the company’s subsidiary ACME Renewtech secured financing of Rs 1,988 crore from Power Finance Corporation (PFC).
Additionally, ACME Solar has also won a 300 MW SECI ISTS solar project.
“ACME Renewtech Private Limited, a subsidiary of ACME Solar Holdings Limited (“ACME Solar”), has successfully secured INR 1,988 crore in term loan financing from Power Finance Corporation (PFC) to fund the development and construction of a 300 MW Solar-Wind Hybrid Renewable Energy Project,” said the company in its exchange filing.
The project will be located in high-resource potential areas, with solar capacity to be developed in Bikaner, Rajasthan, and wind sites in Bhuj, Gujarat. The power purchase agreement (PPA) has already been signed with NTPC, and grid connectivity for the project is in place.
The land for the solar capacity has been fully procured.
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