ACME Solar: Massive ₹4,725 Crore Debt Win for Renewables

ACME Solar Holdings has secured ₹4,725 crore in debt financing from leading Indian financial institutions to support its renewable energy portfolio and optimise its capital structure.

The funding includes ₹2,716 crore from Power Finance Corporation for the 300 MW ACME Sigma FDRE project, which incorporates four hours of battery energy storage, and ₹800 crore from the National Bank for Financing Infrastructure Development (NaBFID) for the 150 MW ACME Platinum Solar + ESS project, featuring two hours of battery storage. Both projects are at advanced stages of construction with grid connectivity already in place.

In addition, ACME Solar raised ₹1,209 crore from Yes Bank to refinance its 300 MW ACME Sikar Solar project. This refinancing is expected to reduce borrowing costs by up to 195 basis points.

With this transaction, the company’s total greenfield financing raised in the current financial year has reached ₹10,590 crore, enabling an overall debt tie-up of more than 90% for power purchase agreement (PPA)-backed projects under construction.

Commenting on the development, a company spokesperson said, “This financing supports our commitment to renewable energy growth while optimising costs.”

ACME Solar currently has a total renewable energy capacity of 7,520 MW, comprising 2,942 MW of operational assets and 4,578 MW under construction, including approximately 15 GWh of battery energy storage system (BESS) installations.

News by Rahul Yelligetti.