ACME Solar Holdings has raised ₹1,100 crore in refinancing from the State Bank of India (SBI) for its 300 MW solar project in Rajasthan. The deal, structured with a tenure of nearly 17 years, will help ACME lower its debt servicing costs by nearly 100 basis points compared to earlier financing terms.
The Rajasthan Project
The 300 MW plant has been operational for around six months and has maintained strong performance with an optimal Capacity Utilisation Factor (CUF). The refinancing ensures greater cash flow stability, enabling ACME to allocate resources towards capacity expansion while keeping borrowing costs in check.
Why This Deal Counts
For ACME, one of India’s largest renewable power producers, this refinancing is more than just a financial move. By optimising its debt structure, the company is improving credit metrics, positioning itself for potential rating upgrades, and aligning with its broader strategy of financial discipline across projects.
Currently, ACME operates nearly 2,890 MW of renewable capacity, spanning solar, wind, hybrid, and storage projects. The Rajasthan plant’s refinancing may serve as a template for future projects, signalling the growing role of long-tenor debt in India’s renewable sector.
Strategic Outlook
India’s push towards 500 GW renewable capacity by 2030 requires not just large-scale deployment but also efficient financial structuring. Deals like ACME’s highlight how access to cost-competitive capital is becoming a decisive edge for developers. With lower debt costs and a stronger balance sheet, ACME is better positioned to accelerate its growth pipeline and contribute to India’s clean energy goals.
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