ACME Solar Holdings secures ₹2,491 cr refinancing for renewable projects

ACME Solar Holdings, the flagship business of the diversified ACME Group, currently operates 2,540 MW of renewable energy capacity

ACME Solar Holdings, a leading renewable energy company in India, has secured a ₹2,491 crore long-term project finance facility to refinance its 490 MW operational renewable energy projects across three states, the company announced on Thursday.

The shares of ACME Solar Holdings Limited were trading at ₹201.70 up by ₹9.60 or 5 perc cent hitting its upper band today at 12.40 pm.

The refinancing, secured from State Bank of India (SBI) and Rural Electrification Corporation (REC), covers projects in Andhra Pradesh, Rajasthan and Punjab with a weighted average interest rate of 8.8 per cent. The facility extends for 18-20 years, matching the projects’ operational lifespans.

According to Purushottam Kejriwal, Chief Financial Officer of ACME Solar Holdings, the initiative aligns with the company’s strategy to create an efficient capital structure while reducing debt costs. The refinancing has resulted in improved credit ratings for the Andhra Pradesh and Punjab entities under a co-obligor structure.

The operational projects include 160 MW in Andhra Pradesh and 30 MW in Punjab (both operating for approximately 9 years), along with 300 MW in Rajasthan (operating for about 3 years).

ACME Solar Holdings, the flagship business of the diversified ACME Group, currently operates 2,540 MW of renewable energy capacity. The company has set an ambitious target of expanding to 6,970 MW capacity within the next three years.

The refinancing move reflects ACME’s commitment to financial discipline as it positions itself at the forefront of India’s transition to clean energy.

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Published on April 3, 2025