Luthra and Luthra Law Offices India recently advised Power Finance Corporation Limited in relation to financial assistance in the form of rupee term loan aggregating up to an amount of ₹1,988 crore provided to Acme Renewtech Private Limited.

The transaction team was led by Girish Rawat (Partner) who was ably assisted by Ashneet Chhabra (Managing Associate) and Ranjini Ghosh (Associate).

Acme Renewtech will use the funds for setting up Solar Wind Hybrid Renewable Energy Project, comprising of 300 MW/ 435 MWp Solar Wind Capacity in Rajasthan and Gujarat.

he project will span two states, with the solar component located in Bikaner, Rajasthan, and the wind installations in Bhuj, Gujarat. PFC is the sole lender, structuring the financing with an 80:20 debt-to-equity ratio. A power purchase agreement has been executed with NTPC, and grid connectivity is already secured. Land acquisition for the solar segment has been completed.

PFC is a government-owned non-banking financial company (NBFC) under the administrative control of the Ministry of Power, Government of India. Incorporated in 1986, PFC primarily provides financial assistance to the power sector, including generation, transmission, distribution, and renewable energy projects. 

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