ACME Solar completes INR 1,072 crore refinancing for Rajasthan project

India-based ACME Solar has completed a refinancing deal worth INR 1,072 crore (~ $128.64 million) for its 250 MW operational solar project in Rajasthan. The refinancing was arranged through a consortium of lenders, including Bank of America and Standard Chartered Bank. The 18-year refinancing facility for its 100% subsidiary ACME Aklera Power Technology Pvt Ltd,has reduced the project's financing cost by 95 basis points to 8.5% per annum. The plant, operational for 18 months, recorded a Capacity Utilisation Factor (CUF) of 29.3% in FY25. This refinancing adds to INR 4,575 crore (~ $548.96 million) of similar refinancing completed by ACME Solar over the past six months to lower debt costs and diversify funding sources.