ACME Solar Secures Massive Rs 1,072-Crore Refinancing
ACME Solar Holdings has secured a Rs 1,072-crore project finance facility to refinance the debt for its 250 MW project in Rajasthan. The refinancing aims to reduce debt costs and diversify funding sources, demonstrating ACME Solar's strategic plans for improving financial efficiency.
- Country:
- India
ACME Solar Holdings on Monday announced it has secured a significant Rs 1,072-crore domestic finance facility. This financial move is intended for its subsidiary, ACME Aklera Power Technology, to refinance existing debt for their 250 MW operational project in Rajasthan.
The project, which has been operational for 18 months, achieved an impressive Capacity Utilisation Factor (CUF) of 29.3 percent in FY25, according to the company. The current refinancing is aimed at reducing the financing cost by 95 basis points to 8.5 percent per annum.
A consortium led by prominent institutions such as Bank of America and Standard Chartered Bank is backing this 18-year tenure refinancing effort. This development builds on Rs 4,575 crore of refinancing completed over the past six months, aligning with ACME Solar's strategy to enhance its financial structure, reduce the cost of debt, and elevate its credit profile.
(With inputs from agencies.)
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