ACME Solar Holdings’ subsidiary has secured Rs 3,184 crore in project financing from the Rural Electrification Corporation (REC) to accelerate the development of its renewable energy portfolio. 

The funding will be deployed towards upcoming large-scale solar power projects, reinforcing ACME’s position as one of India’s leading solar energy developers. 

In parallel, the company signed a long-term Power Purchase Agreement (PPA) with NHPC Limited, under which NHPC will procure solar power for distribution to state utilities.

 The dual development underscores growing synergies between solar and hydropower operators in diversifying India’s clean energy mix. 

ACME’s move is in line with the country’s target of achieving 500 GW of renewable energy capacity by 2030, while REC’s financing reflects its growing role in green infrastructure funding.