Power Finance Corporation Limited has sanctioned a ₹2,046.24 crore rupee term loan financing for Phase I of a hybrid solar–wind–battery energy storage system power project being developed by ACME Urja One Private Limited in Andhra Pradesh and Madhya Pradesh.
The loan will part-finance the estimated project cost for Phase I of a 380 MW hybrid power project, comprising 406 MWp / 280 MW solar capacity with 600 MWh BESS at Anantapur in Andhra Pradesh, and 64 MW wind capacity with 40 MWh BESS at Agar Malwa in Madhya Pradesh.
The project is promoted by ACME Solar Holdings Limited through its special purpose vehicle, ACME Urja One.
Shardul Amarchand Mangaldas & Co advised Power Finance Corp on this transaction.
The transaction team was led by Anurag Dwivedi (Partner), with support from Prince Singh (Principal Associate), Shashwat Bhaskar (Senior Associate), Amitanshu Saxena (Senior Associate), Rahul Pai (Senior Associate), Aditya Arora (Senior Associate), Associates Chaitanya Kashyap, Shravani Bhide, Agrima Aron and Shantanu.
The financing supports the development of large-scale, multi-technology renewable energy infrastructure across multiple states and enables the deployment of integrated storage-backed generation assets aimed at enhancing grid reliability and supporting India’s clean energy transition.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.