ACME Solar Holdings secures INR 2,300 crore NaBFID loan for 450 MW solar projects refinancing

ACME Solar Holdings has secured INR 2,300 crore in 15-year term financing from NaBFID, strategically refinancing existing dollar bonds across 450 MW of its Indian solar projects. This move provides ACME Solar with crucial long-term financial stability, effectively de-risking these assets from potential foreign exchange fluctuations inherent in dollar-denominated debt. The domestic financing structure ensures a more predictable cost of capital for the 450 MW solar portfolio, benefiting the developer by insulating it from currency volatility over the next 15 years. This transaction allows ACME Solar to optimize its capital structure for these specific Indian assets, aligning its debt currency with its revenue stream. For NaBFID, this INR 2,300 crore commitment represents a direct deployment of its mandate to provide long-term debt financing for critical infrastructure within India, supporting the nation's renewable energy transition. The 2026-03-09 announcement confirms a clear commercial logic for both parties, with ACME Solar gaining financial certainty and NaBFID fulfilling its development finance role. ACME Solar Holdings, an Indian renewable energy IPP managing a 7.39 GW portfolio, strengthens its operational foundation by securing this INR 2,300 crore domestic loan for its 450 MW solar assets. This refinancing decision by ACME Solar, a subsidiary of India Cleantech Energy, aligns with the parent company's focus on developing and operating renewable energy assets across India, ensuring financial resilience for a portion of its portfolio. NaBFID, established by the Government of India in 2021 as a development finance institution, actively supports the nation's infrastructure goals through this 15-year term financing. The institution's provision of long-term debt for these 450 MW solar projects directly contributes to India's clean energy capacity. This transaction suggests a growing preference among Indian IPPs to leverage domestic capital markets and institutions like NaBFID, mitigating foreign exchange risk for long-term power generation assets in India.