India-based ACME Hybrid Urja, a wholly owned subsidiary of ACME Solar Holdings, has signed a 25-year Power Purchase Agreement with NHPC. The agreement is for a 280 MW Firm and Dispatchable Renewable Energy (FDRE) project at a tariff of INR 4.64 per unit (about $0.051). The project has secured INR 3,184 crore (~ $350 million) in funding from state-owned REC Ltd, which will serve as the sole lender and provide long-term financing for 18 years. According to ACME Solar Holdings, the funds will be allocated for the project’s development and construction. This marks REC’s third financing for ACME Solar’s FDRE projects in 2025, following previous support for two projects with a combined capacity of 570 MW. The FDRE model is intended to ensure reliable and consistent renewable power delivery by integrating various renewable generation and storage technologies to meet contracted output under the long-term agreement with NHPC. Recently, ACME Solar has signed 250 MW solar PPA with NHPC in Rajasthan.