ACME Venus Urja, a wholly owned subsidiary of ACME Solar Holdings, has secured a long-term project funding loan of ₹38.92 billion (~$440.13 million) from the State Bank of India (SBI) for the development of a 400 MW firm and dispatchable renewable energy (FDRE) project in Barmer, Rajasthan. The loan’s repayment is spread across 19 years.

According to the company’s bourse filing, the loan is its largest financing from SBI and the bank’s first financing of ACME’s FDRE projects.

The FDRE project is contracted with NHPC at a tariff of ₹4.64 (~$0.052). It includes a solar project and a battery energy storage system to meet the supply obligations and ensure higher dispatchability in accordance with the power purchase agreement.

This follows a series of recent funding ACME has secured for its FDRE projects. In August this year, ACME Hybrid Urja secured an 18-year project financing of ₹31.84 billion (~$363.72 million) from REC to develop a 280 MW FDRE project, which is also contracted with NHPC at a tariff of ₹4.64 (~$0.052).

In November last year, ACME Sun Power secured a ₹37.53 billion (~$444.68 million) loan from REC to develop 320 MW FDRE projects in collaboration with SJVN. The project is located in high-resource potential regions, with the solar capacity situated in Jaisalmer, Rajasthan, and wind power generation at Bhuj and Jam Khambhaliya in Gujarat.

ACME recently executed a share purchase agreement to acquire 100% equity shares of AK Renewable Infra for an enterprise value of ₹792.5 million (~$9 million). Jaipur-based AK Renewable Infra has secured all development rights, including land, connectivity, and associated approvals, for a 300 MW solar project in Rajasthan.

ACME Solar Holdings was one of the top utility-scale solar project developers in India for 2024, according to Mercom’s India Solar Market Leaderboard 2025. Its yearly capacity additions comprised 11.5% of the country’s total.