ACME Solar's Strategic Refinance: A Boost to Rajasthan Energy Project

ACME Solar Holdings has secured Rs 1,100 crore from the State Bank of India to refinance its 300 MW renewable energy project in Rajasthan. This move aims to reduce debt costs and optimize financing, bolstering its credit profile and facilitating future capacity growth.

ACME Solar Holdings has announced a successful refinancing initiative through which it has raised Rs 1,100 crore from the State Bank of India. The funding will support its 300 MW renewable energy project in Rajasthan.

This strategic financial maneuver focuses on refinancing existing debt to achieve a reduction in financing costs by approximately 100 basis points.

This initiative aligns with ACME Solar's strategy to optimize financing costs and enhance its credit profile. The project, operational for six months, maintains high utilization and positions ACME for growth.

(With inputs from agencies.)