ACME Solar Holdings rose as much as 2% to a day high of ₹363.35 on Wednesday after securing Rs 3,404.57 crore in project funding from PFC.

Power Finance Corporation will be the sole lender for the loan, which carries a repayment period of 19 years.

The money will go into building a 250 MW renewable energy project being developed through the company’s subsidiary, ACME Urja One, in its third phase.

The project itself isn’t a plain solar farm. It blends solar, wind and battery storage so the power supply stays firm and predictable rather than dipping when the sun goes down or the wind slows.

The site is split across two states, Fatehgarh-II in Rajasthan’s Jaisalmer district and Jamkhambhaliya in Gujarat’s Devbhumi Dwarka.

Land and grid connectivity at both locations are already in place, and the company expects to commission the project sometime next year.

There’s a long-term buyer already lined up too. ACME Solar has signed a 25-year power purchase agreement with NHPC at ₹4.33 per unit, a tariff that both the central and state regulators have already cleared.

This is the company’s second big funding win in a short stretch. It had raised Rs 2,646 crore from REC for a separate 450 MW project just weeks earlier.

Between the two deals, ACME Solar has now secured Rs 6,051 crore in project financing for the current financial year.

On the NSE at 11:11 am, the stock was quoting at ₹362.25, up 1.90% or ₹6.75 over the previous close of ₹355.50.

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