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ACME Solar has successfully completed the refinancing of Rs 2,147 crore thereby redeeming existing Non-Convertible Debentures (NCDs) issued by 12 operational special purpose vehicles (SPVs), representing a cumulative capacity of 450 MW, in August 2021 under Restricted Group (RG) Structure.
Concurrently, the underlying offshore dollar bonds under the orphan structure has also been fully redeemed. This takes the total financing raised so far during the current fiscal to Rs 8,198 crore.
RG Structure comprises of 12 Operational Solar Assets with 56% of the overall capacity being tied up with Central Utilities viz. SECI and NTPC and rest capacity tied up with various States offtakers. RG structure is provisionally rated as AA- from CARE ratings which demonstrates credit rating agency comfort on the operational and financial parameters of these assets.
This long-term refinancing has been availed from National Bank for Financing Infrastructure and Development (NaBFID).
This has reduced the borrowing cost by approximately 150 basis points across these issuing SPVs, resulting in stronger project cash flows and an enhanced long-term capital structure.
ACME Solar Holdings (ACME Solar) has secured Rs 3,404.57 crore long-term project funding for its ACME Urja One (Phase – III) 250 MW FDRE project from Power Finance Corporation (PFC) for the development & construction of the project.
PFC will serve as the sole financer for this project with a repayment tenor of 19 years.
The current funding milestone takes the overall project funding raised by the company during this fiscal to Rs 6,051 crore.
The PPA for this project was signed with NHPC for a period of 25 years at a tariff of Rs 4.33/unit. The tariff is already approved and adopted by Central and State Regulator.
The ACME Urja One (Phase-III) FDRE project combines multiple renewable energy technologies including Solar, Wind and Battery Energy Storage System (BESS) to meet the supply obligations and, ensures higher predictability and dispatchability. It spans across Fategarh-II in Jaisalmer, Rajasthan and Jamkhambhaliya in Devbhumi Dwarka, Gujarat with necessary land and connectivity already in place. The development of this project is progressing on schedule and is expected to be commissioned next year.
With this transaction, ACME Solar has raised Rs 6,051 crore in project funding during the current financial year.
The project has a 25-year power purchase agreement (PPA) with NHPC, with a tariff of Rs 4.33 per unit. The tariff has already been approved and adopted by the central and state regulators.
The FDRE project integrates solar, wind and battery energy storage system (BESS) technologies to provide a more reliable and dispatchable renewable power supply. It is being developed across Jaisalmer, Rajasthan, and Devbhumi Dwarka, Gujarat, where land and grid connectivity are already in place. The company said the project is progressing as scheduled and is expected to be commissioned next year.
ACME Solar is an integrated renewable energy company with a diversified portfolio of 8,070 MW spanning solar, wind, hybrid, storage and FDRE projects. It has an operational contracted capacity of 2,990 MW, around 3.62 GWh of BESS capacity, and 5,080 MW of contracted capacity under construction.
On a consolidated basis, ACME Solar Holdings' net profit rose 12.94% to Rs 139.32 crore while net sales rose 12.50% to Rs 547.77 crore in Q4 March 2026 over Q4 March 2025.
ACME Solar said the projects are expected to strengthen grid stability, support peak-hour electricity demand and facilitate the integration of round-the-clock renewable energy.
Separately, the company provided an update on the fire incident at its ACME Suryodaya BESS facility in Pokhran, Rajasthan. The root cause analysis found that the incident was triggered by an electrical short circuit that caused a localized fire in the AC cables between the transformer and the power conversion system (PCS), leading to an equipment shutdown.
The company said the fire did not damage other equipment at the site and was brought under control quickly. Restoration activities have since been completed, it added.
ACME Solar has a diversified renewable energy portfolio of 8,070 MW spanning solar, wind, hybrid, storage and firm and dispatchable renewable energy (FDRE) projects. It currently has an operational contracted capacity of 2,990 MW and 3.62 GWh of battery energy storage capacity, with 5,080 MW of contracted capacity under construction.
ACME Solar Holdings, through its subsidiary ACME Renewtech Fifth Private, has signed a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a 300 MW ISTS-connected Wind-Solar Hybrid Renewable Energy Project. The tariff is already approved and adopted by Central and State Regulator.
The Hybrid RE Project will be connected to ISTS substations and will utilize company's already secured connectivity at high-irradiation and wind zones. Under the PPA, ACME Solar will supply power at a minimum annual capacity utilization factor (CUF) of 30%. With this, out of the total contracted portfolio of 8,070 MW, the PPA-signed portfolio stands at 6,870 MW.
ACME Solar has secured Rs 2,646.64 crore long term project funding for its ACME Greentech Seventh 450MW/1800MWh Assured Peak Power Project from REC. The company will deploy these funds for the development & construction of this project. REC will serve as the sole financer for this project for 20 years. The PPA for this project was signed with SJVN at a tariff of INR 6.74/unit for a period of 25 years.
The ACME Greentech Seventh Assured Peak Power Project combines multiple renewable energy technologies including Solar and Battery Energy Storage System (BESS) to meet the supply obligations and, ensures higher predictability and dispatchability.
With this, ACME Suryodaya has achieved a commissioned capacity of 285 MW / 842.624 MWh.