ACME Solar Holdings, India's leading renewable energy company and part of the diversified ACME Group, has secured domestic project finance facility of Rs 1,072 crore in its 100% subsidiary ACME Aklera Power Technology Private Limited to refinance the existing debt and reduce financing cost by 95 bps to 8.5% per annum for its 250 MW operational project, in Rajasthan.

The project has an operational track record of ~18 months and has achieved annual CUF of 29.3% in FY25. This refinancing of 18 years tenure has been secured from a consortium led by institutions including Bank of America and Standard Chartered Bank. This has helped in improving the project's strategic alignment with ACME Solar's goal of credit rating upgrade and reducing the overall finance cost of its portfolio.

This adds to the refinance done so far in last six months of Rs 4,575 crore and is as per group's plan of refinancing post operations to reduce the cost of debt & improve its credit profile. Bank of America had been an existing lender to ACME Group, however, this refinancing milestone marks the addition of Bank of America and Standard Chartered as project finance lenders to the Group.

The current refinancing by leading international Banks reinforces international lending partner's confidence in Indian Renewable Sector and execution & operation capabilities of ACME Solar in the sector. This helps in further strengthening of international lender base of Acme Solar from existing marquee lenders.

According to Rajat Kumar Singh, Group CFO of ACME Solar Holdings, "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. We have been able to improve our projects' credit ratings by demonstrating our commitment to financial discipline and stability. The reduced cost of debt enables us to further strengthen our financial position as we pursue capacity growth over the next few years."