Indian developer Acme Solar today announced it had successfully priced its inaugural green bond, raising $334 million at a coupon rate of 4.7% per annum with a five-year maturity.
The amount will be used to finance Acme’s twelve operating solar assets with a combined capacity of 450MW (or 605 MWp) in eight Indian states.
“Twelve projects of ACME Solar Holdings Private Limited (ACME) today agreed to a debt funding of approx. $334 million via US dollar-denominated green bonds that were successfully priced today,” Acme announced today.
The proceeds of the bonds will be used for the subscription to non-convertible debentures (NCDs) denominated in rupees to be issued by these entities.
The issue was oversubscribed by over three times. The geographical split of the investors included APAC 56%, EMEA 22%, and North America/LATM regions 22%. The bonds will list on Singapore Exchange Securities Trading Ltd.
ACME Solar is now a 4.8 GWp solar-focused platform supported by partners such as Norway’s Scatec, IFU, Unops, and Brookfield. Its 4.8 GWp portfolio includes 2.2 GWp of operational capacity and another 2.6 GWp under construction.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.