ACME Solar Holdings, a leading renewable energy company in India and a key business of ACME Group, has secured ₹2,491 crore in long-term project financing. The funds, arranged for 18-20 years, will refinance existing debt and reduce financing costs for its 490 MW operational renewable energy projects in Andhra Pradesh, Rajasthan, and Punjab.
The refinancing deal, secured from SBI and REC, offers a lower weighted average interest rate of 8.8%. This move has improved ACME Solar’s credit profile, resulting in a higher credit rating for its Andhra Pradesh and Punjab entities under a co-obligor structure. The company aims to continue reducing interest costs across all operational projects.
With an operational track record of ~9 years for Andhra Pradesh (160 MW) and Punjab (30 MW) projects, and ~3 years for Rajasthan (300 MW), ACME Solar is demonstrating financial stability and discipline.
Purushottam Kejriwal, CFO of ACME Solar Holdings, stated, “This refinancing aligns with our strategy to optimize capital structure and lower debt costs. Improved credit ratings further strengthen our financial position as we expand capacity in the next three years.”
ACME Solar currently operates 2,540 MW of renewable energy capacity and aims to scale up to 6,970 MW within three years. As a pioneer in India’s clean energy transition, the company continues to enhance financial efficiency while driving sustainable growth.
