Acme Solar Holdings has secured a ₹1,072 crore refinancing for its 250 MW operational project in Rajasthan, the company announced on Monday, June 23.The facility will be used by the company’s subsidiary ACME Aklera Power Technology to refinance existing debt and reduce financing cost by 95 basis points to 8.5% per annum for its 250 MW operational project, in Rajasthan. The project has an operational track record of 18 months and achieved an annual Capacity Utilisation Factor of 29.3% in FY25.
With a tenure of 18 years, the refinancing has been secured from a consortium led by Bank of America and Standard Chartered Bank. Bank of America had been an existing lender to ACME Group. This latest round of refinancing adds to ₹4,575 crore of borrowing completed over the past six months.
In April 2025, Brokerage firm ICICI Securities initiated coverage on ACME Solar Holdings and issued a ‘Buy’ ratings for the company with potential upsides of 74%.
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, the company said.Rajat Kumar Singh, Group CFO of ACME Solar Holdings said: “The refinancing aligns with our strategy to create an efficient capital structure by reducing the cost of debt while diversifying our sources of fund and lending partners. We have been able to improve our projects’ credit ratings by demonstrating our commitment to financial discipline and stability. The reduced cost of debt enables us to further strengthen our financial position as we pursue capacity growth over the next few years.”In May, ACME Solar CEO Nikhil Dhingra told CNBC-TV18 that driven by strong capacity growth, better realisations, and robust operating leverage, the company is confident of achieving its long-term financial goal of ₹7,000 crore in EBITDA (earnings before interest, tax, depreciation, and amortisation) well before 2030.Also read: ACME Solar confident of steady margins on rising realisations, quality contractsThe company’s shares are trading marginally lower today at ₹245.40 on the BSE.
