PFC will serve as the sole financer for the project with a repayment tenor of 19 years.
This takes the overall project funding raised by the company during this financial year to ₹6,051 crores, the company said.
The power purchase agreement for this project was signed with NHPC Ltd for a period of 25 years at a tariff of ₹4.33 per unit. The tariff has already been approved and adopted by the central and state regulator.
The ACME Urja One (Phase-III) firm and dispatchable renewable energy project combines multiple renewable energy technologies, including solar, wind and battery energy storage system. to meet the supply obligations, and ensures higher predictability and dispatchability.
It spans across Fatehgarh-II in Jaisalmer, Rajasthan, and Jamkhambhaliya in Devbhumi Dwarka, Gujarat, with necessary land and connectivity already in place.
The project development is progressing on schedule and is expected to be commissioned next year, the company said.