CRISIL Ratings upgraded ACME Solar Holdings Ltd’s long-term bank facilities worth ₹1,000 crore to ‘CRISIL AA-/Stable’ from ‘CRISIL A+/Positive’ today, marking the company’s highest rating upgrade.

This is the second AA-/Stable rating received by the renewable energy firm and is expected to reduce its cost of debt across projects.

The upgrade reflects ACME Solar’s expanding operational portfolio and proven execution capabilities. The company has successfully stabilized assets and refinanced projects at reduced debt costs, improving operating cash flows. CRISIL also considered the company’s 2.84 GW pipeline of solar, hybrid, and wind projects under power purchase agreements, plus a 550 MWh battery energy storage system project scheduled for completion over the next two to three years.

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