India, April 3 -- ACME Solar Holdings, a leading renewable energy company and the flagship of the ACME Group, has secured a Rs 2,491 crore long-term project finance facility for 18-20 years. The refinancing aims to reduce debt costs for its 490 MW operational renewable energy projects in Andhra Pradesh, Rajasthan, and Punjab.
The refinancing, obtained from SBI and REC at a reduced weighted average interest rate of 8.8%, enhances the company's credit profile and has led to improved credit ratings for its Andhra Pradesh and Punjab entities under a co-obligor structure. This move aligns with ACME's broader strategy of credit upgrades and lowering overall interest costs across its operational projects. The Andhra Pradesh (160 MW) and Punjab (3...