Shardul Amarchand Mangaldas advises Power Finance Corporation Limited on ₹2,046.24 crore financing of Acme Urja One’s 380 MW Solar–Wind–BESS hybrid power project

Shardul Amarchand Mangaldas & Co. acted as legal counsel to Power Finance Corporation Limited in connection with the ₹2,046.24 crore rupee term loan financing for Phase I of a hybrid solar–wind–battery energy storage system power project being developed by ACME Urja One Private Limited in Andhra Pradesh and Madhya Pradesh.

The transaction involved a secured rupee term loan facility extended by Power Finance Corporation Limited to part-finance the estimated project cost for Phase I of a 380 MW hybrid power project, comprising 406 MWp / 280 MW solar capacity with 600 MWh BESS at Anantapur in Andhra Pradesh, and 64 MW wind capacity with 40 MWh BESS at Agar Malwa in Madhya Pradesh. The project is promoted by ACME Solar Holdings Limited through its special purpose vehicle, ACME Urja One Private Limited.

The financing supports the development of large-scale, multi-technology renewable energy infrastructure across multiple states and enables the deployment of integrated storage-backed generation assets aimed at enhancing grid reliability and supporting India’s clean energy transition.

The SAM transaction team was led by Anurag Dwivedi, Partner, with support from Prince Singh, Principal Associate; Shashwat Bhaskar, Senior Associate; Amitanshu Saxena, Senior Associate; Rahul Pai, Senior Associate; Aditya Arora, Senior Associate; Chaitanya Kashyap, Associate; Shravani Bhide, Associate; Agrima Aron, Associate; and Shantanu, Associate.