ACME Sun Power, a wholly owned subsidiary of ACME Solar Holdings has secured a term loan worth Rs 37.53 billion from REC Limited.
The funds from the loan will be utilised for the development and construction of a 320 MW firm and dispatchable renewable energy (FDRE) project in collaboration SJVN Limited. The FDRE projects will be developed in Jaisalmer, Rajasthan and in Bhuj and Jam Khambhaliya in Gujarat. The FDRE plants will provide round-the-clock power supply, help the power distribution companies by fulfilling their renewable purchase obligations and energy storage obligations. The company has also signed a power purchase agreement with SJVN. Further, they have also secured grid connectivity.
