ACME Solar Holdings on Thursday said it has raised Rs 1,571 crore project funding from India Infrastructure Finance Company Ltd (IIFCL) for setting up ACME Renewtech Sixth 300 MW assured peak power project in Rajasthan.

This project financing, secured at a competitive rate of interest, marks IIFCL's first sole greenfield finance to ACME, with IIFCL acting as the sole lender for the project with a repayment tenor of 19 years, a company statement said.