ICRA Assigns 'ICRA AA-/Stable' Rating to ₹990 Crore Bank Facilities
ICRA assigns 'ICRA AA-/Stable' rating to ACME Solar's ₹990 crore long-term bank facilities for its 300 MW solar project in Rajasthan, citing strong operational profile and revenue visibility.
The improved credit rating can lead to reduced borrowing costs and enhanced financial flexibility for the company.
The announcement highlights a positive credit rating assignment, indicating financial stability and investor confidence.
* ICRA has assigned 'ICRA AA-/Stable' rating to long-term bank facilities of ACME Dhaulpur Powertech Private Limited (ADPPL), a wholly-owned subsidiary of ACME Solar Holdings Limited. * The rating applies to the ₹990 crore term loan facility from Indian Renewable Energy Development Agency Limited (IREDA) for a 300 MW ISTS solar power project in Jaisalmer, Rajasthan. * The rating is expected to reduce borrowing costs for the project. * The plant has been operational since January 2025 and achieving CUF of 29.05% since commissioning. * Key strengths underpinning the rating include experienced sponsors, revenue visibility, strong debt coverage metrics, timely payments, and a strong counterparty. * ADPPL has a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI). * ACME Solar has an operational capacity of 2,918 MW and an under-construction capacity of 4,472 MW, including 13.5 GWh of BESS installation.
What to do with a filing like this
Acme Solar Holdings Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Acme Solar Holdings Limited. Read the original for the full detail.