ACME Solar Holdings Secures ₹11 Billion SBI Refinancing for Advanced 400 MW Solar Project in Rajasthan

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ACME Solar Holdings Limited has achieved a major milestone in India’s renewable energy sector with its latest refinancing deal, securing long-term funding of ₹3,892 crore (approximately ₹39 billion, or nearly ₹11 billion in new funding rounds) from the State Bank of India (SBI). The transaction underscores SBI’s first and largest investment in ACME’s Firm and Dispatchable Renewable Energy (FDRE) projects, marking a new chapter for the solar giant’s expansion in Rajasthan.

Key Highlights:

ACME Solar’s wholly-owned subsidiary, ACME Venus Urja Private Limited, has landed the project refinancing and development funds for a pioneering 400 MW FDRE solar and battery energy storage project in Barmer, Rajasthan.

The project features a hybrid model, integrating large-scale solar generation with a sophisticated Battery Energy Storage System (BESS), designed to provide dispatchable and reliable renewable power.

Backed by a long-term Power Purchase Agreement (PPA) with NHPC Ltd at a competitive tariff of ₹4.64 per unit, the project is scheduled for a repayment period of 19 years, reflecting confidence in its profitability and operational expertise.

ACME Solar has stated that this funding from SBI—its largest to date—will drive the infrastructure needed for next-generation energy delivery, aligning with India’s accelerated transition to clean energy.

The company currently operates a diversified portfolio of 2,890 MW in solar, wind, storage, and hybrid solutions, leveraging its integrated engineering, procurement, and construction (EPC), and O&M capabilities for efficient project execution.

Shares of ACME Solar rallied up to 2% upon announcement, reflecting market optimism surrounding the company’s strong growth trajectory and commitment to sustainable innovation.

The Barmer FDRE project, combining guaranteed firm supply with flexible dispatchability, is expected to set new standards in India’s renewable sector, especially as more projects adopt storage solutions for round-the-clock power.

Strategic and Market Outlook:

ACME Solar’s landmark refinancing deal is seen as a pivotal move, boosting investor confidence and attracting further capital inflow into advanced renewable infrastructure. Industry analysts note that the growing trend toward large-scale hybrid energy projects is vital for achieving India’s ambitious climate goals and improving grid reliability.

With SBI’s support, ACME Solar strengthens its position as a leading utility-scale renewable developer, promoting new benchmarks in energy storage, grid flexibility, and financial innovation. The long-term partnership with NHPC underpins sector stability by ensuring market-linked tariffs and supply reliability.

In summary, ACME Solar’s new infusion of refinancing from SBI signals robust momentum for India’s clean energy transformation and positions the company as a key driver in the country’s sustainable growth ambitions.

Sources: ACME Solar Holdings Ltd Corporate Announcements, SBI Press Releases, Economic Times Energy Desk, pv-magazine India, Financial Express, Moneycontrol (September 2025).