+
CRISIL Rates ACME Raisar Solar's Rs 8.80 Bn Loan 'AA-/Stable'
POWER & RENEWABLE ENERGY

CRISIL Rates ACME Raisar Solar's Rs 8.80 Bn Loan 'AA-/Stable'

CRISIL Ratings has assigned 'CRISIL AA-/Stable’ rating to long-term bank facilities of ACME Raisar Solar Energy, wholly owned subsidiary of ACME Solar Holdings. This rating is assigned to 300 MW (AC) capacity located in Fategarh, Rajasthan for its Rs 8.90 billion term loan facility from REC.

CRISIL cited robust revenue visibility, strong financial metrics & debt servicing capability, and a secure cash flow mechanism as key strengths underpinning AA-/Stable rating, one of the highest ratings accorded by the rating agencies. The rating reflects ARSEPL's strong operational profile supported by a 25-years Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI). The fixed tariff for 25 years ensures long-term cash flow predictability, while SECI's track record of timely payments further enhances the credit profile. Pursuant to this rating upgrade and completion of 6 months of operations, the existing cost of debt is expected to reduce by 75 basis points this month to 8.95 per cent with existing lender as per applicable rate at existing lender for this rating. This reduction doesn't capture further reduction possible due to expected base rate reduction at existing lender and any refinancing benefits with a new lender.

CRISIL Ratings has assigned 'CRISIL AA-/Stable’ rating to long-term bank facilities of ACME Raisar Solar Energy, wholly owned subsidiary of ACME Solar Holdings. This rating is assigned to 300 MW (AC) capacity located in Fategarh, Rajasthan for its Rs 8.90 billion term loan facility from REC.CRISIL cited robust revenue visibility, strong financial metrics & debt servicing capability, and a secure cash flow mechanism as key strengths underpinning AA-/Stable rating, one of the highest ratings accorded by the rating agencies. The rating reflects ARSEPL's strong operational profile supported by a 25-years Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI). The fixed tariff for 25 years ensures long-term cash flow predictability, while SECI's track record of timely payments further enhances the credit profile. Pursuant to this rating upgrade and completion of 6 months of operations, the existing cost of debt is expected to reduce by 75 basis points this month to 8.95 per cent with existing lender as per applicable rate at existing lender for this rating. This reduction doesn't capture further reduction possible due to expected base rate reduction at existing lender and any refinancing benefits with a new lender.

Next Story
Infrastructure Urban

APCRDA Approves Rs 9.04 Bn to Upgrade Infrastructure in 29 Amaravati Villages

The Andhra Pradesh Capital Region Development Authority (APCRDA), chaired by Chief Minister N Chandrababu Naidu, has approved Rs 9.04 billion for addressing key infrastructure gaps in 29 villages within Amaravati’s greenfield capital area, announced Municipal Administration Minister P. Narayana at the 51st CRDA meeting.The funds will be used to upgrade critical facilities including roads, drains, drinking water supply, sewerage systems, and street lighting. A detailed assessment revealed a 30 per cent shortfall in water supply, a total absence of sewerage infrastructure, a 40 per cent defici..

Next Story
Infrastructure Transport

Cabinet Approves Phase-1B of Lucknow Metro Rail Project Worth Rs 58.01 Bn

The Union Cabinet, led by Prime Minister Narendra Modi, has approved Phase-1B of the Lucknow Metro Rail Project in Uttar Pradesh. This phase covers an 11.165 km corridor with 12 stations—7 underground and 5 elevated—extending the city’s metro network to 34 km upon completion.Phase-1B targets the dense, historic parts of Lucknow, enhancing connectivity across key commercial, healthcare, tourist, and culinary hubs. Important areas served include Aminabad, Yahiyaganj, Pandeyganj, Chowk, King George’s Medical University, and landmarks like Bara Imambara and Rumi Darwaza.This expansion prom..

Next Story
Infrastructure Transport

Major Upgrades Planned for Tamil Nadu’s National Waterways

Tamil Nadu is poised for significant infrastructure upgrades across its National Waterways (NWs), with a focus on developing jetties, cargo hubs, and cruise tourism circuits, according to the Ministry of Ports, Shipping and Waterways. These projects aim to promote sustainable inland water transport and boost regional economic activity.Key projects include the development of Buckingham Canal (part of NW-4), with jetties planned at the following locations:Mahabalipuram to Ediyur BridgeCooum River near Marina BeachPulicat LakeEnnore Port to ETPS, specifically for cargo operationsOther National Wa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?