ACME Solar Holdings Limited has secured domestic refinancing of Rs 11 billion from the State Bank of India (SBI) for its 300 MW renewable energy project in Rajasthan.
The refinancing has been availed for its CRISIL AA- rated subsidiary for a tenure of 17 years. The project, which has an operational track record of six months with consistent capacity utilisation factor, will benefit from a reduction in financing costs by nearly 100 basis points.