Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
ACME Solar Holdings has raised INR 4,725 crore from Indian financial institutions to fund renewable energy projects and reduce financing costs. The funding includes long-term greenfield financing and refinancing with tenors of up to 20 years. Key transactions include support for FDRE and solar-plus-storage projects, along with refinancing of an operational solar asset that lowers interest costs. The company has secured over INR 10,500 crore in greenfield financing this financial year, covering most PPAs under construction, while continuing to rebalance its debt structure.
ACME Solar Holdings has secured INR 4,725 crore in financing from leading Indian financial institutions to fund its renewable energy projects and improve its capital structure by lowering financing costs. The funding includes a mix of fresh financing and refinancing arrangements, with loan tenors ranging between 18 and 20 years. Advertisement
The company stated that ACME Solar Holdings Ltd, through its subsidiaries, arranged the debt tie-up to support ongoing renewable projects while reducing overall borrowing costs. The financing package reflects the company's focus on securing long-term funds aligned with the operating life of its assets.
Under new greenfield financing, ACME Solar received INR 2,716 crore from Power Finance Corporation Ltd for the 300 MW ACME Sigma FDRE project. The project includes four hours of battery energy storage and is part of the company's firm and dispatchable renewable energy portfolio. In addition, the company obtained its first greenfield project financing from the National Bank for Financing Infrastructure Development, which sanctioned INR 800 crore for the 150 MW ACME Platinum Solar plus energy storage system project. This project includes two hours of battery storage with 50 per cent availability.
Both greenfield projects have secured grid connectivity and are at advanced stages of construction, reducing execution risks and supporting timely completion.
On the refinancing side, ACME Solar secured INR 1,209 crore from Yes Bank for the operational 300 MW ACME Sikar Solar project. This refinancing is expected to lower the cost of debt by about 170 basis points initially, with the reduction rising to nearly 195 basis points over time. This transaction also marks Yes Bank's first long-term refinancing engagement with ACME Solar.
With this round of funding, ACME Solar has secured INR 10,590 crore in greenfield financing during the current financial year. As a result, total debt tie-ups now cover over 90 per cent of power purchase agreements signed for projects under construction. The company has also refinanced INR 3,380 crore of existing debt, achieving an interest cost reduction of 135 basis points on the refinanced amount. Additionally, it secured an average rate cut of around 60 basis points on INR 4,035 crore of debt across other projects, including two operational assets that have shifted to a fixed-rate borrowing structure with their existing lender.
The company said these measures are aligned with its long-term funding strategy, which focuses on maintaining a balanced mix of fixed and floating rate borrowings to manage interest rate risks.
During the year, ACME Solar also expanded its non-fund-based credit limits with several banks, including ICICI Bank, Standard Chartered Bank, First Abu Dhabi Bank and EXIM Bank. These limits are intended to lower borrowing costs during the construction phase through improved access to trade finance.
ACME Solar Holdings Ltd operates as an integrated renewable energy company with a diversified portfolio that includes solar, wind, energy storage, firm and dispatchable renewable energy, and hybrid solutions.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
