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

25 Jul 2025 CW Team

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.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..