ACME Solar Holdings has secured a Rs 23 billion, 15-year term loan from the National Bank for Financing Infrastructure and Development (NaBFID). The loan has been priced between 8 per cent and 8.50 per cent. The proceeds will be used to repay dollar bonds issued by its subsidiary, India Cleantech Energy, which are due to mature later this year.
Furthermore, the loan is secured by revenues from 12 special purpose vehicles (SPVs) operating about 450 MW of solar projects. Most of these projects have long-term power purchase agreements with central agencies, including the Solar Energy Corporation of India. The financing follows a restricted group structure, enabling lenders to depend on the cash flows generated by these SPVs for debt servicing.
Earlier in February 2026, ACME Solar Holdings Limited secured a letter of award from Rewa Ultra Mega Solar Limited for the development of a 220 MW solar power project integrated with a BESS.
