ACME Solar Holdings Limited announced that its 250 MW renewable energy project, executed through its subsidiary AKPTPL, has been upgraded to ‘ICRA AA-/Stable’ from ‘ICRA A+/Stable’ by ICRA Limited. The rating applies to a ₹1,072 crore term loan facility used for the project in Rajasthan, reinforcing ACME Solar’s financial standing and project viability. This upgrade reflects the company’s robust operational performance and secure revenue streams.
ICRA Rating Upgrade
ACME Solar Holdings Limited’s subsidiary, ACME Aklera Power Technology Private Limited (AKPTPL), has received an upgraded credit rating from ICRA Limited. The long-term loan facility for the 250 MW renewable energy project has been upgraded to ‘ICRA AA-/Stable’ from ‘ICRA A+/Stable’ as of September 24, 2025.
Financial Details
The rating applies to AKPTPL’s ₹1,072 crore term loan facility. This facility supports a 250 MW renewable energy capacity project located in Rajasthan. The financing comes from Bank of America, Standard Chartered Bank, and India Infradebt Limited.
Key Factors for Upgrade
The upgrade reflects ACME Solar’s strengthening credit profile, robust revenue visibility, healthy generational performance, and successful refinancing of its previous loan on favourable terms. AKPTPL benefits from a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI), ensuring long-term cash flow predictability and timely payments.
About ACME Solar Holdings
ACME Solar Holdings is a leading integrated renewable energy player with a diversified portfolio including solar, wind, storage, FDRE, and hybrid solutions. The company has an operational capacity of 2,890 MW. With an in-house EPC and O&M division, ACME Solar manages end-to-end development and O&M of its plants.
Source: BSE
