ACME Solar Secures ₹47.2 Billion Financing to Power India’s Green Energy Expansion Published 2025-12-22 15:12:00 By Anupam Nath ACME Solar Holdings, one of India’s leading renewable energy developers, has achieved a significant milestone by securing a massive ₹47.2 billion (approximately $519 million) in financing from Indian financial institutions. This new round of funding will accelerate the development of clean energy projects across the country, including firm and dispatchable renewable energy (FDRE) projects and solar-plus-storage systems.Out of the total financing, ₹27.1 billion (around $298 million) was raised from the Power Finance Corporation (PFC) to support a 300 MW FDRE project. This project combines renewables with four hours of battery energy storage, allowing power delivery even during non-solar hours. The inclusion of storage solutions makes this one of India’s most advanced renewable projects, capable of offering continuous power supply similar to conventional energy sources.In addition, ACME Solar received ₹8 billion (roughly $88 million) from the National Bank for Financing Infrastructure Development (NaBFID) to back a 150 MW solar-plus-energy-storage project. This installation includes two hours of battery capacity with 50% availability, improving grid reliability and operational efficiency.Another ₹12.09 billion ($133 million) was secured from Yes Bank to refinance ACME’s 300 MW Sikar Solar Project. This refinancing will help reduce borrowing costs by up to 195 basis points, strengthening ACME’s overall capital structure and improving project profitability.The financing package includes both new greenfield investments and refinancing arrangements, with long-term tenures ranging between 18 and 20 years. With this round, the company’s greenfield financing for FY 2024–25 now stands at ₹105.9 billion (~$1.17 billion), covering over 90% of its active power purchase agreements (PPAs).Moreover, ACME Solar has refinanced approximately ₹33.8 billion ($372 million) of existing debt, achieving an average interest rate reduction of 135 basis points. Across other projects, including two operational ones, the company achieved an additional 60 basis point cut by shifting to fixed-rate regimes—demonstrating its consistent focus on financial optimization and sustainable growth.Currently, ACME Solar boasts a total renewable energy portfolio of 7,520 MW—with 2,942 MW operational and 4,578 MW under construction. This portfolio also includes 15 GWh of planned battery energy storage capacity, which positions the company at the forefront of India’s clean power revolution.In 2025 alone, ACME secured multiple significant deals, including a 25-year power purchase agreement (PPA) with Tata Power Company for a 50 MW FDRE project at a tariff of ₹4.43/kWh. These achievements underscore ACME’s pivotal role in driving India’s renewable energy ambitions and shaping a more sustainable future powered by solar and storage innovation.
