ACME Solar Holdings Limited has secured ₹1,100 crore in long-term funding from State Bank of India (SBI) to refinance existing debt for its 300 MW solar power project in Rajasthan. The loan has been extended to the company’s CRISIL AA- rated subsidiary for a term of approximately 17 years.
The refinancing will reduce the project’s financing cost by nearly 100 basis points, aligning with ACME Solar’s broader strategy to lower borrowing costs and improve credit metrics across its portfolio. The Rajasthan-based project has been in operation for around six months and is currently delivering at consistent and optimal capacity utilization factor (CUF) levels.
This funding move is expected to enhance financial efficiency, as well as support the company’s upcoming capacity expansions, by freeing up capital and reducing interest burden. “This refinance reflects our continued efforts to strengthen our balance sheet and improve project-level credit ratings. Lower debt costs allow us to channel resources into future growth while maintaining financial stability,” said an ACME Solar spokesperson.
Over the past few years, ACME has steadily improved the credit ratings of its assets by focusing on financial discipline, operational performance, and a strong execution track record. The current transaction is another step in reinforcing investor confidence and supporting rating upgrades through prudent capital management.
ACME Solar is one of India’s leading renewable energy companies, with an operational portfolio of 2,890 MW across solar, wind, hybrid, and storage assets. The company has developed in-house capabilities across EPC (engineering, procurement, and construction) and O&M (operations and maintenance), allowing it to deliver projects efficiently while ensuring strong long-term performance.
ACME’s plants are known for their high CUF levels and industry-leading operating margins, underpinned by its integrated approach to asset development and management. The company continues to scale up its presence in India’s clean energy sector, with a strong pipeline across various technologies and geographies.
