New Delhi: ACME Solar Holdings on Tuesday announced that it has secured Rs 1,100 crore in domestic financing from the State Bank of India (SBI) for its 300 MW renewable energy project in Rajasthan.
The funds will be used to refinance existing debt, reducing the project’s financing cost by approximately 100 basis points. The refinancing has a tenure of around 17 years.
ACME Solar said the move aligns with its strategy to optimize financing costs across its portfolio and enhance its credit profile through potential rating upgrades.
The 300 MW Rajasthan project, operational for about six months, has consistently maintained strong capacity utilization factor (CUF) levels. The lower cost of debt is expected to further strengthen ACME Solar’s financial position as the company pursues significant capacity expansion in the coming years.
ACME Solar Holdings is an integrated renewable energy company with a diversified portfolio that includes solar, wind, storage, Firm and Dispatchable Renewable Energy (FDRE), and hybrid solutions, with a total operational capacity of 2,890 MW.
