ACME Solar Unit Secures Credit Rating Upgrade for Rajasthan Renewable Energy Project

ICRA Limited has elevated the credit rating of ACME Aklera Power Technology Private Limited's term loan facility to 'ICRA AA-/Stable' from 'ICRA A+/Stable'. The upgrade applies to a ₹1,072 crore facility funding a 250 MW solar project in Rajasthan, backed by Bank of America, Standard Chartered, and India Infradebt.

The rating action reflects ACME Solar's strengthened parent-company profile, predictable revenue streams from a 25-year SECI power purchase agreement, and successful debt refinancing. SECI's reliable payment history further bolsters the project's creditworthiness.

ACME Solar Holdings maintains 2,890 MW of operational renewable capacity across solar, wind, and storage solutions, with vertically integrated EPC and O&M capabilities. The Rajasthan project exemplifies India's accelerating transition toward large-scale renewable infrastructure.