ACME Solar Holdings: Small-cap stock rises as firm secures ₹1,072 crore refinancing for an operational project

Small-cap stock ACME Solar Holdings rose about 2 per cent in a weak market after the company announced it had secured a ₹1,072 crore refinancing for a 250 MW operational project in Rajasthan. ACME Solar Holdings share price opened at ₹241.15 against its previous close of ₹247.85 and rose 1.7 per cent to an intraday high of ₹252.10. 

ACME Solar Holdings project refinancing update

According to an exchange filing, ACME Solar Holdings, India’s leading renewable energy company and part of the diversified ACME Group, has secured domestic project finance facility of ₹1,072 crore in its 100 per cent subsidiary ACME Aklera Power Technology Private Limited to refinance the existing debt and reduce financing cost by 95 bps to 8.5 per cent per annum for its 250 MW operational project, in Rajasthan.

The project has an operational track record of nearly 18 months and has achieved an annual CUF of 29.3 per cent in FY25.

This refinancing of an 18-year tenure has been secured from a consortium led by institutions including Bank of America and Standard Chartered Bank. This has helped in improving the project’s strategic alignment with ACME Solar’s goal of credit rating upgrade and reducing the overall finance cost of its portfolio, said the company.

“The refinancing aligns with our strategy to create an efficient capital structure by reducing the cost of debt while diversifying our sources of funding and lending partners. We have been able to improve our projects’ credit ratings by demonstrating our commitment to financial discipline and stability. The reduced cost of debt enables us to further strengthen our

financial position as we pursue capacity growth over the next few years,” said Rajat Kumar Singh, Group CFO of ACME Solar Holdings.

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