ACME Solar appoints new CPO, secures Rs 4,725 crore financing

ACME Solar Holdings Limited has announced two developments aligned with its long-term growth strategy. 

On 17 December 2025, ACME Solar confirmed the appointment of Ayalur S Kumar as Chief Procurement and Supply Chain Officer. Kumar has over 30 years of experience in procurement, supply chain strategy, and operations across renewable energy, electric vehicle infrastructure, and the power sector. His previous roles include senior positions at Fortum, Skoda Power, ABB, and Alstrom. He holds a Bachelor of Technology in Mechanical Engineering and a Master of Business Administration in International Business from the Indian Institute of Foreign Trade (IIFT), New Delhi.

On 18 December 2025, the company disclosed that it had secured a debt commitment of Rs 4,725 crore through its subsidiaries. The funding will be used for new project construction and refinancing of existing debt to improve capital efficiency and reduce financing costs.

The financing package includes Rs 2,716 crore from Power Finance Corporation Limited (PFC) for a 300 MW firm and dispatchable renewable energy (FDRE) project. It also includes Rs 800 crore from the National Bank for Financing Infrastructure and Development (NaBFID) for a 150 MW solar and energy storage system (ESS) project, and Rs 1,209 crore from Yes Bank to refinance the operational 300 MW ACME Sikar Solar project.

With this transaction, ACME Solar’s total greenfield financing for the current financial year has reached around Rs 10,590 crore. The company also reported refinancing about Rs 3,380 crore of debt during the year, resulting in an interest rate reduction of nearly 135 basis points. In addition, ACME Solar has expanded its non-fund-based limits with banks, including ICICI Bank and Standard Chartered Bank.

ACME Solar Holdings Limited stated that it is an integrated renewable energy company with a total portfolio of 7,520 MW. This includes 2,942 MW of operational capacity and 4,578 MW under construction, along with around 15 GWh of battery energy storage system (BESS) installations.