New Delhi, Sept. 23 -- ACME Solar Holdings announced on Tuesday that it has secured Rs.1,100 crore in domestic financing from the State Bank of India (SBI) for its 300 MW renewable energy project in Rajasthan.

The funding will be used to refinance existing debt, lowering the project's financing cost by nearly 100 basis points. SBI has extended this refinancing for a tenure of about 17 years.

According to the company, the move aligns with its strategy to optimize financing costs across its portfolio and strengthen its credit standing through potential rating upgrades. The Rajasthan project, operational for around six months, has consistently delivered at optimal capacity utilization factor (CUF) levels.

With the reduced cost of debt, AC...