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ACME Solar Holdings has secured INR 1,100 crore in financing from the State Bank of India for its 300 MW Rajasthan renewable energy project. The funds will refinance existing debt, cutting financing costs by approximately 100 basis points, and come with a 17-year tenure. Operational for six months, the project has maintained strong capacity utilization. This refinancing supports ACME Solar's strategy to optimize financing across its portfolio and improve its credit profile. The company, which has a diversified renewable energy portfolio and an operational capacity of 2,890 MW, is positioned for significant growth in the coming years.
ACME Solar Holdings has raised INR 1,100 crore in domestic funding from the State Bank of India for its 300 MW renewable energy project in Rajasthan. The funds will be used to refinance the existing debt, helping reduce financing costs by around 100 basis points and improving the project's overall financial efficiency. Advertisement
The refinancing arrangement has a tenure of approximately 17 years. ACME Solar Holdings stated that this step is in line with the company's ongoing strategy to optimize financing costs across its renewable energy portfolio while strengthening its credit profile through potential rating upgrades.
The Rajasthan project has been operational for around six months and has consistently maintained high capacity utilization factor (CUF) levels, demonstrating stable performance since commissioning. With lower financing costs, ACME Solar is better positioned to strengthen its financial stability and pursue ambitious capacity growth plans over the next few years.
ACME Solar Holdings is an integrated renewable energy company with a diversified portfolio covering solar, wind, storage, Firm and Dispatchable Renewable Energy (FDRE), and hybrid solutions. The company currently operates with a total capacity of 2,890 MW, reflecting its significant presence in India's renewable energy sector.
Source PTI
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