ACME Solar Holdings Limited, one of the leading companies in the renewable energy sector, has been able to secure a massive financing deal on the 300 MW renewable energy project of its subsidiary in Rajasthan. The firm has declared that it has obtained refinancing of about 1,100 crores by the State Bank of India (SBI), which has been a milestone in the support of its financial structure.
Key Details of the Refinancing Deal:
- Loan Amount: Rs 1,100 crore
- Lender: State Bank of India (SBI)
- Tenure: Approximately 17 years
- Cost Reduction: Financing costs lowered by approximately 100 basis points
Highlights of Project Performance and Operations:
The 300 MW project in Rajasthan has been in operation for about six months and still has achieved optimum capacity utilization factor (CUF) levels, which is indicative of good operational efficiency. The subsidiary company has a great CRISIL AA- credit rating, which also highlights its financial stability.
Strategic Significance:
Such refinancing is in line with the strategic direction of ACME Solar towards maximizing its financial structure by minimizing the financing cost of its portfolio and the overall credit profile of the company. The stability and the operational excellence of the company are highlighted through the consistency of the performance of the project.
Market Position and future projections:
ACME Solar has a good position in the market and creditworthiness, which is supported by the successful refinancing of SBI, one of the largest banks in India that belongs to the public sector. The subsidiary is also strong in terms of its operations and financial capabilities, as shown by the CRISIL AA- rating of the subsidiary.
Through this refinancing, ACME Solar is in a strong position to expedite capacity growth and strengthen its financial position and it may possibly have credit rating improvements in the near future. This report points to the rising confidence of the renewable energy sector in India and the rising backing of the major financial institutions with sustainable energy projects.
ACME Solar is a significant player in the renewable energy sector with an operational capacity of 2,890 MW. Its diversified portfolio spans solar, wind, storage, and hybrid energy solutions, supported by comprehensive in-house EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) capabilities.
