+
CRISIL Rates Rs 2,086 Cr ACME Projects 'AA-/Stable'
POWER & RENEWABLE ENERGY

CRISIL Rates Rs 2,086 Cr ACME Projects 'AA-/Stable'

CRISIL Ratings has assigned a 'CRISIL AA-/Stable' rating to the long-term bank facilities worth Rs 2.08 billion of ACME Deohar Solar Power (ADSPPL) and ACME Phalodi Solar Power (APSPPL). Both entities are wholly owned subsidiaries of ACME Solar Holdings (ASHL), and the rating pertains to their renewable energy projects in Rajasthan with a combined capacity of 600 MW. The loan facility has been sanctioned by Power Finance Corporation.

The rating reflects strong revenue visibility, healthy financial metrics, robust debt servicing capability, and a secure cash flow structure. A key strength cited by CRISIL is the presence of 25-year Power Purchase Agreements (PPAs) with Solar Energy Corporation of India (SECI), offering fixed tariffs that ensure long-term cash flow predictability. SECI’s proven track record of timely payments further strengthens the credit profile.

CRISIL also highlighted the efficient capital cost and strong performance of the projects, with actual generation exceeding projections—ADSPPL at approximately 31.3% and APSPPL at around 30.6%. Within six months of commissioning, all four ASHL assets in Fatehgarh, Rajasthan, have received 'AA' family ratings from CRISIL, opening doors for future bond issuances and refinancing opportunities.

CRISIL Ratings has assigned a 'CRISIL AA-/Stable' rating to the long-term bank facilities worth Rs 2.08 billion of ACME Deohar Solar Power (ADSPPL) and ACME Phalodi Solar Power (APSPPL). Both entities are wholly owned subsidiaries of ACME Solar Holdings (ASHL), and the rating pertains to their renewable energy projects in Rajasthan with a combined capacity of 600 MW. The loan facility has been sanctioned by Power Finance Corporation.The rating reflects strong revenue visibility, healthy financial metrics, robust debt servicing capability, and a secure cash flow structure. A key strength cited by CRISIL is the presence of 25-year Power Purchase Agreements (PPAs) with Solar Energy Corporation of India (SECI), offering fixed tariffs that ensure long-term cash flow predictability. SECI’s proven track record of timely payments further strengthens the credit profile.CRISIL also highlighted the efficient capital cost and strong performance of the projects, with actual generation exceeding projections—ADSPPL at approximately 31.3% and APSPPL at around 30.6%. Within six months of commissioning, all four ASHL assets in Fatehgarh, Rajasthan, have received 'AA' family ratings from CRISIL, opening doors for future bond issuances and refinancing opportunities.

Next Story
Infrastructure Urban

IAF Concludes Capstone Seminar of WASP Programme

The Indian Air Force (IAF) has concluded the Capstone Seminar of the fourth edition of the Warfare and Aerospace Strategy Programme (WASP). Conceived to cultivate strategic thinking among future leaders, WASP prepares officers to make informed operational decisions by understanding the broader politico-military context and long-term outcomes.This edition included 12 officers – 10 from the IAF and two from the Indian Navy – who undertook intensive training combining military theory with political, technological, and behavioural analysis.The six-month course featured analytical reading, writ..

Next Story
Infrastructure Urban

Vedanta Aluminium Expands Alloy Capacity in Jharsuguda

Vedanta Aluminium, India’s largest aluminium producer, has announced a significant expansion at its Special Economic Zone facility in Jharsuguda. The company has increased the installed capacity of its Primary Foundry Alloy (PFA) unit by 120 kilo tonnes per annum. This move reinforces India’s standing as a global supplier of advanced aluminium products for automotive and engineering industries. Vedanta Aluminium was the first Indian company to produce and supply PFAs domestically.PFAs are essential for manufacturing automotive parts such as alloy wheels, engine blocks, cylinder heads, and ..

Next Story
Infrastructure Urban

Zoomlion Deepens Local Ties Through Community Outreach

Zoomlion Heavy Industry Science & Technology Co., Ltd. has reinforced its commitment to localisation with a meaningful community initiative that goes beyond business operations. Zoomlion Philippines recently organised a volunteer visit to the Rehoboth Sampaloc Orphanage in Tanay, Rizal, where employees delivered supplies and spent quality time with 27 children. The initiative highlights the company’s broader mission to grow with communities, support its workforce, and build enduring trust.Led by General Manager Xu Jian, the team provided infant formula, diapers, food packs, toys, and oth..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?