ACME Solar Completes Refinancing of NCDs and Fully Redeems Offshore Dollar Bonds

ACME Solar Completes Refinancing of NCDs and Fully Redeems Offshore Dollar Bonds​

ACME Solar Holdings Limited has successfully concluded the refinancing of existing Non-Convertible Debentures (NCDs) and completed the full redemption of underlying offshore dollar bonds. The financial maneuver involves INR 2,147 crore across 12 operational special purpose vehicles (SPVs), representing a cumulative capacity of 450 MW under the Restricted Group (RG) Structure.

The successful transactions bring the total financing raised during the current fiscal for ACME Solar to Rs 8,198 crore. The RG structure encompasses these 12 operational solar assets, with 56% of the overall capacity contracted with Central Utilities such as SECI and NTPC, while the remaining capacity is tied up with various State off-takers. These assets are provisionally rated AA- by CARE ratings.

The long-term refinancing was secured through National Bank for Financing Infrastructure and Development (NaBFID). This move has significantly reduced the borrowing cost across the issuing SPVs by approximately 150 basis points, thereby enhancing the company's long-term capital structure and project cash flows.

ACME Solar Portfolio Overview​

ACME Solar Holdings Limited is identified as a leading integrated renewable energy player with a diversified portfolio spanning solar, wind, storage, FDRE, and hybrid solutions. The company possesses an operational contracted capacity of 2,990 MW and approximately 3.62 GWh of BESS capacity. Furthermore, the under construction contracted capacity stands at 5,080 MW, with the under construction PPA signed portfolio totaling 3,880 MW.

With in-house EPC and O&M divisions, ACME Solar ensures end-to-end development and operation management of its plants, enabling it to deliver projects efficiently and maintain industry leading CUF and operating margins.

ACMESOLAR Stock Price Movement​

On Tuesday, Acme Solar Holdings Limited shares rallied to settle at ₹368.45, gaining 0.9% as trading closed for the session. The equity saw a daily traded volume of 667,352 shares, managing to stay within its intraday range.