ACME Solar currently holds a total portfolio of 8,070 MW spanning solar, wind, hybrid and storage solutions, with an operational contracted capacity of 2,990 MW.
| Photo Credit:
Avijit Ghosh
ACME Solar Holdings Limited has refinanced ₹2,147 crore in debt, redeeming Non-Convertible Debentures issued by 12 operational special purpose vehicles representing 450 MW of solar capacity, the company announced Wednesday from Gurugram.The refinancing, availed from the National Bank for Financing Infrastructure and Development (NaBFID), has simultaneously resulted in the full redemption of underlying offshore dollar bonds held under an orphan structure. The transaction brings total financing raised by ACME Solar in the current fiscal year to ₹8,198 crore.The refinanced portfolio, structured as a Restricted Group comprising 12 operational solar assets, carries a provisional AA- rating from CARE Ratings. Fifty-six per cent of the capacity is contracted with central utilities SECI and NTPC, with the remainder tied to various state offtakers.Reduced borrowing costsThe long-term domestic refinancing has reduced borrowing costs by approximately 150 basis points across the issuing SPVs. The company said this would result in improved project cash flows and a stronger long-term capital structure for the assets, which were originally financed in August 2021.The move reflects a broader trend among Indian renewable energy companies shifting away from offshore dollar-denominated debt toward domestic rupee financing, reducing currency risk while benefiting from improved credit conditions in the local infrastructure lending market.ACME Solar currently holds a total portfolio of 8,070 MW spanning solar, wind, hybrid and storage solutions, with an operational contracted capacity of 2,990 MW. The company has an additional 5,080 MW under construction and approximately 3.62 GWh of battery energy storage capacity. Its in-house EPC and operations and maintenance divisions handle end-to-end project development and upkeep.Published on August 12, 2026
