Indian solar developer ACME Venus Urja, a wholly owned subsidiary of ACME Solar Holdings, has secured INR3.8 billion (US$43 million) to develop and construct a 400MW solar project co-located with a battery energy storage system (BESS).
The financing was secured from the Indian public sector bank State Bank of India (SBI) to support the development and construction of a Firm and Dispatchable Renewable Energy (FDRE) project, with repayment structured over 19 years.
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The project is being developed in Barmer, Rajasthan, and is contracted with state-run National Hydroelectric Power Corporation (NHPC) at INR4.64 per unit.
Gurugram-headquartered ACME Solar Holdings has an operational capacity of 2,890MW, spanning solar, wind, storage, FDRE and hybrid solutions. In June 2025, Chinese PV tracker manufacturer Arctech signed an agreement with ACME to supply 175MW of solar trackers for a facility near Duqm, Oman.
Arctech agreed to deploy its 1P single-axis Skyline II tracking system for a green ammonia project targeting 300 metric tons per day (MTPD) of production. Deliveries were scheduled to begin in phases from July 2025.
Additionally, ACME secured INR31.84 billion in project financing from REC Limited for a 280MW project in India. The project, combining solar and battery storage, was contracted to NHPC under a 25-year power purchase agreement (PPA) at INR4.64/kWh.
