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A few days after listing, ACME Sun Power has received a loan of Rs 3,753 crore for projects in Rajasthan, Gujarat. The company said that ACME Sun Power, a subsidiary of ACME Solar Holdings, has secured term loan financing of Rs 3,753 crore from government company REC Limited for the development and construction of a 320 MW green energy project in collaboration with SJVN.
Th company told the stock markets on Sunday that these projects for solar capacity will be set up in Jaisalmer in Rajasthan and Bhuj and Jam Khambhalia in Gujarat. The company said in a statement that the Power Purchase Agreement (PPA) has been signed with SJVN and grid connectivity has also been secured. The company said that the process of land acquisition is also in the advanced stage. REC
Limited will act as the sole lender for this project. REC, which received Maharatna status in 2022, finances the entire range of power infrastructure. Over the years, ACME Sun Power has diversified and expanded its portfolio from solar power projects and has become a renewable energy. The company was listed on the exchanges on November 13. The company's stock closed at Rs 232.80 on Thursday, down 8 per cent.
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