CRISIL Assigns 'CRISIL AA-/Stable'' Rating to Rs 890 crore Long-Term Bank Facilities of ACME Raisar Solar Project

CRISIL Ratings has assigned 'CRISIL AA- /Stable’ rating to long-term bank facilities of ACME Raisar Solar Energy Pvt Ltd, a wholly owned subsidiary of ACME Solar Holdings Limited. This rating is assigned to 300 MW (AC) capacity located in Fategarh, Rajasthan for its INR 890 crores term loan facility from REC Ltd. The rating reflects ARSEPL’s strong operational profile supported by a 25-years Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited. The fixed tariff for 25 years ensures long-term cash flow predictability, while SECI’s track record of timely payments further enhances the credit profile. This rating upgrade and completion of 6 months of operations is expected to reduce the existing cost of debt by 75 basis points this month to 8.95%.