ACME Solar Shares in Focus; Successfully Refinanced ₹2,147 Crore Through Domestic Financing

ACME Solar Holdings Ltd. has successfully completed the refinancing of ₹2,147 crore, enabling the company to redeem existing non-convertible debentures issued by 12 operational special purpose vehicles (SPVs) with a combined capacity of 450 MW, as per the exchange filings.  

The refinancing has also resulted in the full redemption of the underlying offshore dollar bonds. 

₹2,147 Crore Refinancing Completed 

The refinancing covers NCDs issued by 12 operational solar SPVs under ACME Solar's Restricted Group structure. These assets represent a cumulative operational capacity of 450 MW and were originally financed in August 2021.  

Alongside the domestic refinancing, the offshore dollar bonds under the orphan structure have also been fully redeemed. 

Borrowing Cost Reduced by 150 Basis Points 

The long-term refinancing has been secured from the National Bank for Financing Infrastructure and Development (NaBFID).  

According to the company, the refinancing has reduced borrowing costs by approximately 150 basis points across the issuing SPVs. This is expected to strengthen project cash flows and improve the long-term capital structure. 

Total Financing Raised Reaches ₹8,198 Crore 

With the latest refinancing, ACME Solar's total financing raised during the current fiscal has reached ₹8,198 crore.  

The company said the transaction strengthens its financing profile while supporting its operational renewable energy assets. 

Operational Portfolio Has 2,990 MW Contracted Capacity 

ACME Solar's portfolio spans 8,070 MW across solar, wind, storage, firm and dispatchable renewable energy (FDRE) and hybrid solutions.  

Its operational contracted capacity stands at 2,990 MW, along with approximately 3.62 GWh of BESS capacity, while another 5,080 MW of contracted capacity is under construction. 

The company also has an under-construction portfolio with 3,880 MW of signed PPAs, according to the disclosure. 

Restricted Group Assets Maintain Strong Offtake Profile 

The Restricted Group structure consists of 12 operational solar assets, with 56% of the overall capacity tied up with Central Utilities such as SECI and NTPC, while the remaining capacity is tied up with various state offtakers.  

The structure has a provisional AA- rating from CARE Ratings, reflecting the rating agency's assessment of the operational and financial parameters of the assets. 

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ACME Solar Share Price Performance 

As of August 12, 2026, at 12:08 PM, ACME Solar share price was trading at ₹371.55 per share, reflecting a surge of 0.84% from the previous trading session. 

Conclusion 

ACME Solar's ₹2,147 crore refinancing marks a significant debt restructuring for its operational solar assets and has enabled the company to fully redeem its offshore dollar bonds. The reduction in borrowing costs is expected to support stronger project cash flows and a more efficient long-term capital structure. 

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