ACME Solar Secures INR 4725 Crore Financing, Expands Banking Base and Reduces Financing Costs

ACME Solar Holdings Ltd has secured debt tie-up of INR 4,725 crore from leading Indian financial institutions to fund the construction of renewable energy projects and optimize its capital structure. The financing includes INR 2,716 crore from Power Finance Corporation Ltd for a 300 MW ACME Sigma FDRE project, INR 800 crore from National Bank for Financing Infrastructure Development for a 150 MW ACME Platinum Solar + ESS project, and INR 1,209 crore from Yes Bank for refinancing a 300 MW ACME Sikar Solar project. Additionally, ACME Solar has expanded non-fund based limits from various banks and achieved a rate reduction on refinanced debt and other projects. The company has a renewable portfolio of 7,520 MW, with an operational capacity of 2,942 MW and under-construction capacity of 4,578 MW.