ACME Solar Holdings Ltd has secured debt commitments totaling ₹4,725 crore through its subsidiaries from leading Indian financial institutions. The funding will support the construction of new renewable energy projects while also enabling refinancing of existing assets to lower borrowing costs and optimize the company’s capital structure.
The financing package includes long-tenor facilities ranging from 18 to 20 years and is structured across both greenfield development and refinancing initiatives. New project financing includes ₹2,716 crore from Power Finance Corporation Ltd for the 300 MW ACME Sigma FDRE project, which combines renewable generation with four hours of battery energy storage. In addition, the National Bank for Financing Infrastructure Development (NaBFID) has extended ₹800 crore for ACME’s 150 MW Platinum Solar plus Energy Storage System project, featuring two hours of battery storage with 50% availability. Both projects have secured grid connectivity and are currently under advanced stages of construction.
On the refinancing front, ACME Solar has raised ₹1,209 crore from Yes Bank to refinance its operational 300 MW ACME Sikar Solar project. This refinancing has reduced the cost of debt by approximately 170 basis points initially, with an eventual reduction of up to 195 basis points. This marks ACME Solar’s first long-term refinancing arrangement with Yes Bank.
During the current financial year, the company has tied up approximately ₹10,590 crore in greenfield financing, resulting in more than 90% debt coverage for PPA-backed projects under construction. Additionally, ACME has refinanced around ₹3,380 crore of existing debt, achieving an average rate reduction of 135 basis points, along with further reductions of about 60 basis points on ₹4,035 crore of other project debt. These actions align with the company’s long-term strategy of maintaining a balanced mix of fixed and floating interest rate borrowings.
ACME Solar has also expanded its non-fund-based credit facilities during the year through banks including ICICI Bank, Standard Chartered Bank, First Abu Dhabi Bank, and EXIM Bank, supporting cost-efficient trade finance during project construction.
ACME Solar Holdings Limited is an integrated renewable energy company with a diversified portfolio covering solar, wind, energy storage, FDRE, and hybrid solutions. The company’s total renewable capacity stands at 7,520 MW, comprising 2,942 MW operational capacity and 4,578 MW under construction, including approximately 15 GWh of battery energy storage systems. With in-house EPC and O&M capabilities, ACME delivers end-to-end project execution while maintaining industry-leading performance metrics.
