ACME Solar Holdings Limited has secured a Rs 24.91 billion long-term project finance for a duration of 18 to 20 years. The company will use these funds to refinance its existing debt and lower the financing costs for its 490 MW operational renewable energy projects in Andhra Pradesh, Rajasthan, and Punjab in India.
The refinancing has reportedly been secured at a reduced weighted average interest rate of 8.8 per cent from the State Bank of India and REC Limited. Moreover, the refinancing aims to improve the credit profile of the projects and obtain higher credit ratings for entities in Andhra Pradesh and Punjab under a co-obligor structure. This initiative supports ACME Solar’s objective of lowering overall interest costs for its operational projects.
In March 2025, ACME Solar announced plans for a Rs 170 billion capital expenditure in 2026 to expand its renewable energy capacity to 5,000 MW by 2027, while also reportedly exploring investments in nuclear energy in line with India’s target of 100,000 MW by 2047.
