ACME Solar Holdings Limited (ACME Solar) has announced a significant milestone in its renewable energy expansion efforts. The company's wholly-owned subsidiary, ACME Venus Urja Private Limited, has secured project funding of ₹3,892 crore from the State Bank of India (SBI) for a 400 MW solar project.

Project Details

The funding will support the development and construction of a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project in Barmer, Rajasthan. This project represents a significant step forward in ACME Solar's commitment to expanding India's renewable energy infrastructure.

Key aspects of the project include:

Technological Innovation

The FDRE project will incorporate both solar power generation and Battery Energy Storage System (BESS) technology. This combination will enable ACME Solar to meet supply obligations and ensure higher dispatchability as per the Power Purchase Agreement (PPA) conditions.

Significance of the Funding

This funding marks two important milestones:

1. It represents ACME Solar's largest financing from SBI to date.
2. It is SBI's first financing for ACME's FDRE projects, signaling growing confidence in the renewable energy sector.

About ACME Solar Holdings

ACME Solar Holdings is a leading integrated renewable energy player in India. The company's portfolio includes:

• Diverse renewable energy solutions: solar, wind, storage, FDRE, and hybrid solutions
• Operational capacity of 2,890 MW
• In-house EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) divisions

ACME Solar's integrated approach allows for end-to-end development and maintenance of its plants, resulting in time and cost-effective project delivery while maintaining high operating performance.

This latest funding and project announcement underscores ACME Solar's commitment to expanding India's renewable energy capacity and contributing to the country's clean energy goals.

ACME Solar Holdings has issued a clarification regarding recent media reports, asserting that there has been no revocation of grid connectivity for any of its projects. The company's statement comes in response to speculation circulating in the media about the status of grid access for various clean energy projects in India.

Addressing Media Speculation

The clarification from ACME Solar was prompted by a Reuters news report dated September 8, 2025, titled "India revokes grid access for 17 GW of clean energy projects, says source." The report suggested that India had cancelled grid access for nearly 17 gigawatts (GW) of delayed clean energy projects to prioritize connections for those that are operational or nearing completion.

ACME Solar's Official Statement

In an official communication to the BSE Limited and the National Stock Exchange of India Ltd, ACME Solar categorically stated:

"It is clarified that no revocation of any of the connectivity of projects of ACME Solar Holdings Ltd is in effect as of today, and we have not received information in respect to any such revocation/cancellation from CTUIL (Central Transmission Utility of India Limited)."

Regulatory Compliance

The company further emphasized its commitment to regulatory compliance, stating that it has been regularly submitting necessary disclosures to the Stock Exchanges as required under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Industry Context

The Reuters report had mentioned several companies, including Adani Green, ReNew Power, NTPC, Avaada Group, JSW Energy, and ACME Solar, as potentially affected by the alleged grid access cancellations. However, ACME Solar's clarification suggests that, at least in its case, the report may have been inaccurate or premature.

Implications for the Clean Energy Sector

This development highlights the sensitivity of information in the rapidly evolving clean energy sector in India. It underscores the importance of official communications from companies in clarifying market rumors and media reports that can potentially impact investor sentiment and market dynamics.

ACME Solar's prompt response to the media reports demonstrates the company's proactive approach to maintaining transparency with its stakeholders. As the clean energy landscape in India continues to expand, clear communication between project developers, regulatory bodies, and the media will be crucial in ensuring accurate information dissemination to the public and investors alike.

The company has assured that it will continue to provide necessary disclosures in accordance with listing regulations, as required from time to time. Investors and stakeholders are advised to rely on official company statements and regulatory filings for accurate information regarding ACME Solar's projects and operations.