ACME Solar Holdings Limited has secured a ₹1,100 crore domestic refinancing facility from the State Bank of India (SBI) for its 300 MW renewable energy project in Rajasthan. The refinancing, announced on September 23, 2025, is aimed at reducing financing costs and strengthening the company’s credit profile.
₹1,100 Crore SBI Refinancing
The refinancing replaces existing project debt with more cost-efficient funding, lowering borrowing costs by around 100 basis points (bps) over a 17-year tenure. The Rajasthan project has been operational for six months and is reporting optimal capacity utilization factor (CUF) levels, supporting steady cash flows within ACME’s renewable energy portfolio.
Credit Profile and Ratings
This move is aligned with ACME Solar’s strategy to optimise financing costs and pursue credit rating upgrades. The debt is routed through a project subsidiary currently rated CRISIL AA-. Management highlighted that improved financial discipline and predictable cash flows would further enhance balance sheet strength and project-level creditworthiness.
Operational Strength and Portfolio Scale
ACME Solar has a robust portfolio of 2,890 MW of operational capacity across solar, wind, storage, FDRE (firm and dispatchable renewable energy), and hybrid solutions. The company leverages its in-house EPC and O&M expertise, enabling industry-leading CUFs and strong operating margins through efficient execution and integrated project development.
Summary:
ACME Solar has refinanced its 300 MW Rajasthan project with a ₹1,100 crore facility from SBI, cutting financing costs by ~100 bps over 17 years. With 2,890 MW of operational renewable capacity across solar, wind, storage, and hybrid projects, the company is focusing on credit upgrades, balance sheet resilience, and cost optimisation to strengthen its long-term financial profile.
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