ACME Solar Holdings Limited has announced that it has successfully secured domestic funding of ₹1,100 crore from the State Bank of India (SBI) for its Rajasthan renewable energy project. The refinancing will help the company reduce its financing cost by nearly 100 basis points and strengthen its overall credit profile.
The funding has been raised for ACME’s subsidiary, which holds a CRISIL AA- rating, to refinance the existing debt tied to its 300 MW renewable energy project in Rajasthan. The project, which has been operational for around six months, has consistently delivered optimum capacity utilization factor (CUF) levels, reflecting strong operational performance.
The fresh loan from SBI comes with a tenure of about 17 years, aligning with ACME Solar’s long-term strategy of lowering debt costs and improving financial stability. The company has been steadily improving the credit ratings of its projects by showcasing financial discipline and operational efficiency.
With the reduced cost of debt, ACME Solar is expected to further consolidate its financial position while continuing to expand its renewable energy capacity in India. The move also highlights the company’s efforts to achieve rating upgrades and enhance investor confidence as it works towards aggressive growth targets in the coming years.
