ACME Solar Holdings has secured a ₹1,072-crore domestic project finance facility to refinance existing debt for its 250-MW operational solar project in Rajasthan. The refinancing, arranged through subsidiary ACME Aklera Power Technology Private Ltd, reduces the company’s financing cost by 95 basis points to 8.5 per cent per annum.

The 18-year tenure facility was arranged by a consortium led by Bank of America and Standard Chartered Bank. The Rajasthan project has been operational for about 18 months and achieved a capacity utilisation factor (CUF) of 29.3 per cent in FY25.

This refinancing forms part of ACME Solar’s broader debt restructuring strategy, adding to ₹4,575 crore refinanced over the past six months. The initiative aims to reduce overall financing costs and improve the company’s credit profile.

“The refinancing aligns with our strategy to create an efficient capital structure by reducing the cost of debt while diversifying our sources of fund and lending partners,” said Rajat Kumar Singh, Group CFO, ACME Solar Holdings.

Project finance partners

Bank of America and Standard Chartered Bank have joined ACME Group’s existing lender base as project finance partners. ACME Solar Holdings operates a diversified renewable energy portfolio totalling 6,970 MW across solar, wind and hybrid solutions, with 2,826.2 MW currently operational and 4,143.8 MW under development.

Published on June 23, 2025