ACME Solar Raises $164m for Rajasthan Peak Plant

• ACME Solar Holdings bags INR 15.71 billion for a 300-MW hybrid assured-peak power project in Rajasthan—backing development and construction and aiming to deliver reliable peak energy.

ACME Solar Holdings has secured INR 15.71 billion (about USD 164 million, EUR 141 million) in long-term project funding to develop and build a hybrid power project in Rajasthan, India. The financing is intended to support the construction of a 300-MW assured peak power facility at home.

The company said the project will be delivered as a 300-MW assured peak power installation, with the funding structured to back development and construction. ACME Solar Holdings did not provide further details on the lenders or timing in the available report.

What does ACME’s INR 15.71 billion funding enable for its Rajasthan 300-MW hybrid power project?

• Develop and execute the engineering and project development work needed to bring the Rajasthan hybrid facility to financial-close and construction readiness.
  
• Finance construction of the 300-MW assured peak power plant, including procurement and installation of generation and balance-of-plant equipment.
  
• Support integration of hybrid power components (e.g., combining solar and wind with enabling systems) designed to deliver “assured peak” output characteristics.
  
• Cover on-site infrastructure and grid-related works required to connect the plant and enable delivery of contracted peak power.
  
• Fund essential development-to-construction milestones such as permits, studies, and technical documentation needed for build-out.
  
• Enable payments for major EPC and related construction services under the project’s development and construction structure.
  
• Provide working-capital support during the build phase to manage staged expenditures and risk during construction ramp-up.
  
• Strengthen the project’s overall capital stack by allocating long-term debt toward the build, reducing reliance on equity for upfront construction spending.
• De-risk the financing plan by matching long-term funding to the project’s multi-phase construction timeline, helping maintain schedule and delivery commitments.