ACME Solar Holdings Limited has secured a long-term project finance facility of ₹2,491 crore to refinance its existing debt and reduce financing costs for its 490 MW operational renewable energy projects in Andhra Pradesh, Rajasthan, and Punjab.
In the exchange filing, the company stated that the refinancing has been facilitated by the State Bank of India (SBI) and REC at a reduced weighted average interest rate of 8.8%. This move aims to strengthen ACME Solar’s credit profile and secure a higher credit rating for its Andhra Pradesh and Punjab entities under a co-obligor structure.
The improved financial structure aligns with the company’s broader goal of achieving credit upgrades and reducing interest costs across all operational projects. The Andhra Pradesh (160 MW) and Punjab (30 MW) projects have an operational track record of nearly nine years, while the Rajasthan (300 MW) project has been in operation for about three years.
The Chief Financial Officer of ACME Solar Holdings, Purushottam Kejriwal, said, “The refinancing initiative aligns with our strategy to create an efficient capital structure while consistently reducing the cost of debt. We have been able to improve our projects’ credit ratings by demonstrating our commitment to financial discipline and stability. The reduced cost of debt enables us to further strengthen our financial position as we pursue capacity growth over the next three years.”
On April 3, 2025, ACME Solar share price opened at ₹193.10, up from its previous close of ₹192.10. At 9:37 AM, the share price of ACME Solar was trading at ₹201.70, up by 5% on the NSE.
As a leading player in India’s renewable energy sector, ACME Solar Holdings currently has an operational capacity of 2,540 MW and a strong growth plan to achieve 6,970 MW within the next three years. The refinancing initiative reinforces the company’s commitment to expanding its clean energy portfolio while optimising financial efficiency.
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Published on: Apr 3, 2025, 9:46 AM IST
Nikitha Devi
Nikitha is a content creator with 6+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
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