Power Finance Corp funds 250 MW solar project and launches Karnataka transmission SPV

Power Finance Corporation Limited (PFC) has approved a long‑term loan of about Rs 3,405 crore to ACME Solar Holdings Ltd for its 250 MW Firm and Dispatchable Renewable Energy (FDRE) project spanning Fatehgarh‑II in Rajasthan and Jamkhambhaliya in Gujarat. The loan carries a 19‑year repayment term and brings PFC’s total project financing for the current fiscal year to Rs 6,051 crore. The FDRE project integrates solar, wind and a battery energy storage system and is backed by a 25‑year power purchase agreement with NHPC Limited at a tariff of Rs 4.33 per unit.

Separately, PFC has incorporated a wholly‑owned subsidiary, Kushtagi Transmission Limited, as a special‑purpose vehicle to develop a 765 kV interstate transmission line in Karnataka’s Koppal district. The subsidiary will carry out pre‑bidding activities such as surveys, land acquisition and forest clearances before the project is awarded to a private developer through a tariff‑based competitive bidding process.