ACME Solar has completed a ₹2,147 crore long-term refinancing transaction for 12 operational solar Special Purpose Vehicles (SPVs), representing a combined capacity of 450 MW.
The refinancing has been secured from the National Bank for Financing Infrastructure and Development (NaBFID) and will be used to redeem existing Non-Convertible Debentures as well as fully redeem the associated offshore dollar bonds.
A key benefit of the transaction is the expected reduction of around 150 basis points in borrowing costs. The lower financing cost is expected to improve project cash flows and strengthen the long-term financial structure of ACME Solar’s operational renewable energy assets.
The latest transaction also takes ACME Solar’s total financing raised during the current fiscal year to ₹8,198 crore, highlighting the company’s continued access to institutional and infrastructure-focused capital.
The company has also received an AA- provisional rating from CARE Ratings, further supporting its financing profile and investor confidence in its renewable energy portfolio.
A significant portion of ACME Solar’s portfolio is backed by long-term power purchase agreements with central utilities. Around 56% of its portfolio capacity is tied to central utilities, including SECI and NTPC, providing greater revenue visibility for its operational assets.
The refinancing comes at a time when efficient capital structures are becoming increasingly important for India’s renewable energy developers. Lower borrowing costs can play a crucial role in improving project economics, strengthening cash flows and supporting further investment in clean-energy infrastructure.
With its latest refinancing, ACME Solar continues to strengthen its financial position while supporting the long-term growth of its solar power portfolio.
Key Highlights
- 💰 ₹2,147 crore refinancing completed
- ☀️ 450 MW operational solar portfolio
- 🏭 12 solar SPVs refinanced
- 📉 Around 150 bps reduction in borrowing cost
- 💵 ₹8,198 crore financing raised during the current fiscal
- ⭐ AA- provisional rating from CARE Ratings
- ⚡ 56% portfolio capacity tied to central utilities
- 🤝 Includes SECI and NTPC backed projects
