Acme Solar shares jumped 5% after the company secured ₹2,491 crore in long-term project financing to refinance existing debt and lower financing costs for its 490 MW operational renewable energy projects in Andhra Pradesh, Rajasthan, and Punjab.
The refinancing deal, arranged with SBI and REC for 18-20 years, offers a lower weighted average interest rate of 8.8%. This move has strengthened Acme Solar’s credit profile, leading to higher credit ratings for its Andhra Pradesh and Punjab entities under a co-obligor structure.
With a strong operational track record—9 years for its Andhra Pradesh (160 MW) and Punjab (30 MW) projects, and 3 years for Rajasthan (300 MW)—Acme Solar continues to demonstrate financial discipline. The company currently operates 2,540 MW of renewable energy capacity and aims to expand to 6,970 MW within three years.
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.”
Acme Solar shares opened at ₹193.10 and touched a high of ₹201.70 before slipping to a low of ₹193.00. The stock remains volatile, with its 52-week high at ₹292.40 and a low of ₹167.75.
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