ACME Solar Holdings secures project finance facility of Rs 1072 cr
ACME Solar Holdings has secured domestic project finance facility of Rs 1,072 crore in its 100% subsidiary ACME Aklera Power Technology 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.
Powered by Capital Market - Live News