Shares of ACME Solar Holdings Limited gained 3.39% on Tuesday, September 23, closing at ₹305.00 on the NSE, up ₹10 from the previous session. The rise in the stock price followed the company’s announcement that it has secured domestic funding of ₹1,100 crore from the State Bank of India (SBI) for its 300 MW renewable energy project in Rajasthan.
The refinancing, raised through ACME’s subsidiary that holds a CRISIL AA- rating, will help reduce financing costs by nearly 100 basis points. The project has been operational for about six months and has consistently delivered strong capacity utilization factor (CUF) levels, reflecting healthy operational performance.
The SBI loan comes with a tenure of nearly 17 years, aligning with ACME Solar’s long-term strategy of lowering debt costs and improving financial stability. With this funding, the company expects to further strengthen its credit profile while consolidating its position in India’s renewable energy market.
ACME Solar has been working on steadily improving credit ratings across its projects by showcasing financial discipline and operational efficiency. The latest refinancing move is expected to boost investor confidence as the company pursues aggressive growth targets in the renewable energy sector.
