ACME Solar Holdings Ltd has secured domestic funding of INR 1,100 crore from the State Bank of India (SBI) for its CRISIL AA– rated subsidiary. The funds will be used to refinance existing debt and reduce financing costs by approximately 100 basis points for its 300 MW renewable energy project in Rajasthan. This project has been operational for about six months and has consistently maintained optimal Capacity Utilization Factor (CUF) levels.
This refinancing, secured for a tenure of approximately 17 years, aligns with ACME Solar’s strategy to optimize financing costs across its portfolio and strengthen its credit profile through rating upgrades. The Company has been able to improve its projects’ credit ratings by demonstrating strong commitment to financial discipline and stability. The reduced cost of debt enables ACME Solar to further strengthen its financial position as it pursues significant capacity growth over the next few years.
ACME Solar Holdings is an integrated renewable energy player with a diversified portfolio spanning solar, wind, storage, FDRE and hybrid solutions and an operational capacity of 2,890 MW. With an in-house engineering, procurement, and construction (EPC) and operations & maintenance (O&M) division, the company undertakes end-to-end development and O&M of the plants.
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