ACME gets Rs. 600-cr ADB loan.

The ACME Group, which is into solar power, said it has received the final approval for a $100-million (about Rs. 600 crore) credit facility from the Asian Development Bank.

The loan will be in multiple tranches and the first tranche of $50 million will be utilised to develop 100 MW projects in Rajasthan. The remaining credit facility will be for upcoming project, the company said.

Manoj Kumar Upadhyay, Founder & Chairman, ACME Group, said: 'This expression of interest depicts the potential of solar power in the country and focus of the current government on the renewable sector.'| Last month, the group also sourced an investment of $34 million (Rs. 201.9 crore) from IFC for a 100-MW project in Rajasthan.


HBL