What Happened
ACME Solar has secured Rs 1,571 crore project funding from IIFCL for a Rajasthan solar project. This financing marks IIFCL's first sole greenfield finance to ACME, with a 19-year repayment tenor. The project will integrate solar generation and battery storage for assured peak power supply. This funding milestone brings ACME Solar's total financing this fiscal to Rs 10,976 crore. The project entails a total capital expenditure of Rs 2,123 crore.