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CRISIL Assigns High Rating to ACME Solar’s Rajasthan Project

Story Highlights
  • ACME Solar Holdings received a ‘CRISIL AA-/Stable’ rating for its 300 MW solar project.
  • The rating is expected to reduce debt costs, boosting financial efficiency for ACME Solar.
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CRISIL Assigns High Rating to ACME Solar’s Rajasthan Project

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ACME Solar Holdings Ltd. ( (IN:ACMESOLAR) ) just unveiled an announcement.

ACME Solar Holdings Limited announced that CRISIL Ratings has assigned a ‘CRISIL AA-/Stable’ rating to the long-term bank facilities of its subsidiary, ACME Raisar Solar Energy Pvt Ltd, for its 300 MW solar project in Rajasthan. The rating reflects robust revenue visibility, strong financial metrics, and a secure cash flow mechanism, supported by a 25-year Power Purchase Agreement with Solar Energy Corporation of India Limited. This rating is expected to reduce the existing cost of debt by 75 basis points, enhancing the project’s financial efficiency.

More about ACME Solar Holdings Ltd.

ACME Solar Holdings is a leading integrated renewable energy company with a diversified portfolio of 6,970 MW and 550 MWh, covering solar, wind, storage, FDRE, and hybrid solutions. The company has an operational capacity of 2,890 MW, with an additional 4,080 MW and 550 MWh in various stages of implementation. ACME Solar manages end-to-end development and operations of its plants, ensuring timely and cost-effective project delivery with industry-leading capacity utilization and operating margins.

Average Trading Volume: 72,793

Current Market Cap: 150.6B INR

See more insights into ACMESOLAR stock on TipRanks’ Stock Analysis page.

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