MUMBAI — Renewable energy firm ACME Solar Holdings has secured a 15-year term loan of ₹2,300 crore from the National Bank for Financing Infrastructure and Development (NaBFID). The funds will be used to refinance $334 million in dollar bonds maturing later this year.

Key Financial Details

• Interest Rate: The loan is priced between 8% and 8.50%.
• Security Structure: The debt is "ring-fenced" via a Restricted Group (RG) structure, backed by revenues from 12 operational solar SPVs.
• Project Scale: The refinancing covers 450 MW of solar assets, most of which have Power Purchase Agreements (PPAs) with central agencies like SECI.

Strategic Shift

By securing this long-tenure domestic loan, ACME Solar is moving away from volatile international bond markets to more stable, long-term rupee financing. This transition helps the company mitigate currency fluctuation risks while ensuring a steady 15-year repayment schedule.