Andhra Pradesh is set to receive a new project: a round-the-clock renewable energy supply facility, soon to be developed by ACME Cleantech, a domestic provider of renewable energy infrastructure.
ACME Cleantech secured a major project in a tender conducted by the Solar Energy Corporation of India (SECI) to build this facility in Andhra Pradesh. The company has announced securing a loan of Rs. 5600 crores from Power Finance Corporation, with a loan term of up to 17 years.
The project aims to establish 1.2 gigawatts of hybrid renewable energy projects, combining wind and solar power with battery storage technology to ensure uninterrupted power supply across the country during peak hours.
Other companies like ReNew Power, Hero Future Energies, and Amp Energy also secured parts of the tender. ReNew Power received the largest allocation to build 600 megawatts, while ACME secured projects totaling 380 megawatts.
The timeline for completing this project has not been disclosed yet.