Acme Solar Subsidiary Receives Rs 1,988-Crore Term Loan For 300 MW Hybrid Project

Acme Solar also received a 300-MW power project under the SECI-ISTS XVIII scheme at a tariff of Rs 3.05 per unit. As per the power purchase agreement, the operations of the project will start off on or before June 30, 2025, the filing said.

To achieve this, ACME Solar intends to assign its ongoing ACME Sikar project to the new bid, utilizing its existing grid connectivity in Bikaner-2 and the substantial capital expenditure already invested.

The project will also benefit from the Inter-State Transmission System waiver, as the scheduled commercial operation date is set for before June 2025. This is in line with the government's incentives for the early commissioning of renewable energy projects, it said.

Acme Group is planning to enter the solar panel manufacturing space by commissioning its first plant in Jaipur in January.

MKU Holdings, an Acme group company, is setting up a 1.2 GW solar panel manufacturing plant to meet domestic as well as export requirements, people close to the development had told NDTV Profit.