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

07 Jul 2025 CW Team

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.

Products

06 Oct 2025

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India. The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..