Solar Stock photos by Vecteezy
GURUGRAM – ACME Solar Holdings Limited (NSE: ACMESOLAR, BSE: 544283) has successfully secured a significant refinancing package of INR 1,100 crore from the State Bank of India (SBI).
The domestic funding is designated for the company’s 300 MW renewable energy project located in Rajasthan.
The primary objective of this refinancing is to replace existing debt for its subsidiary, which is rated CRISIL AA-. This is expected to reduce the project’s financing cost by approximately 100 basis points.
The project, which has been operational for about six months, has a strong performance record, consistently maintaining optimum CUF (Capacity Utilisation Factor) levels. The new loan from SBI has a tenure of approximately 17 years.
This move is a key part of ACME Solar’s broader financial strategy, which focuses on optimising financing costs across its portfolio and enhancing its credit profile through rating upgrades.
The company stated that it has been able to improve its projects’ credit ratings by demonstrating a strong commitment to financial discipline and stability.
By lowering its debt costs, ACME Solar aims to further solidify its financial position as it prepares for significant capacity expansion over the next few years.
ACME Solar Holdings is a prominent integrated renewable energy company with a diverse portfolio that includes solar, wind, storage, and hybrid solutions.
The company currently has an operational capacity of 2,890 MW and manages its projects end-to-end with in-house EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) divisions.
The disclosure was submitted to the BSE and National Stock Exchange by Rajesh Sodhi, Company Secretary and Compliance Officer.
The filing was noted as a voluntary submission and not an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.
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