ICRA Limited has upgraded the long-term loan rating of ACME Aklera Power Technology Private Limited, a subsidiary of ACME Solar Holdings, to “ICRA AA-/Stable” from “ICRA A+/Stable.” The rating applied to an INR 1,072 crore (~ $ 128.64 million) term loan facility arranged through Bank of America, Standard Chartered Bank, and India Infradebt Limited, supporting a 250 MW renewable energy project located in Rajasthan. The decision reflected factors such as refinancing of earlier debt under improved terms, operational performance of the project, and revenue visibility ensured by a 25-year Power Purchase Agreement with Solar Energy Corporation of India (SECI). The fixed tariff and SECI’s payment record were considered important in maintaining predictable cash flows over the project’s operating period