ACME Solar secures Rs 1,100 crore refinancing for Rajasthan project

ACME Solar Holdings Limited has arranged Rs 1,100 crore for refinancing debt for a 300 MW renewable energy project in Rajasthan and lowering borrowing costs by about 100 basis points.

The project has been operational for six months and has maintained stable capacity utilisation factor (CUF) levels during this period. The refinancing has been arranged through the State Bank of India (SBI) with a tenure of nearly 17 years.

According to the company, the transaction aligns with its strategy to reduce financing costs across its portfolio and strengthen its overall credit profile. ACME Solar has reported improvements in project credit ratings supported by measures to maintain financial stability.

The lower cost of debt, the company stated, will support its plans for capacity expansion in the coming years.