BOM:533206

ACME Solar Secures INR26.5 Billion Financing from REC for Renewable Energy Project

ACME Solar (NSE:ACMESOLAR, BOM:544283) secured 26.5 billion rupees in long-term project financing from REC (NSE:RECLTD, BOM:532955) for its 450 megawatt/1,800-megawatt-hour firm and dispatchable renewable energy project, according to a Thursday exchange filing.The funding will be used to develop and construct the project, with REC serving as the sole lender over a 20-year term.The project will supply power to SJVN (NSE:SJVN, BOM:533206) under a 25-year power purchase agreement at a tariff of 6.74 rupees per unit.

JM Financial Institutional Securities Upgrades SJVN to Reduce From Sell; Price Target is INR67

SJVN Names CFO

SJVN (NSE:SJVN, BOM:533206) appointed Parthajit De as chief financial officer, effective April 10, according to a same-day filing on Indian bourses.Shares of the company were up over 2% in after-market hours.