Gurugram, Haryana, 7th October 2025 – ACME Solar Holdings Ltd (ACME Solar) is a leading integrated renewable energy company with a diversified portfolio spanning solar, wind, storage, FDRE, and hybrid solutions. With an operational capacity of 2,890 MW and in-house EPC and O&M capabilities, the company manages end-to-end development and operation of renewable projects, ensuring timely, cost-effective delivery and industry-leading performance reflected in its high CUF and operating margins.
CRISIL Ratings has upgraded ACME Solar’s non-fund-based long-term bank facilities worth Rs 1,000 cr. to ‘CRISIL AA-/Stable’ from ‘CRISIL A+/Positive’, marking the highest rating upgrade for the company. The enhanced rating underscores ACME Solar’s strong financial health, stable operations, and growing renewable portfolio.
The rating upgrade reflects healthy growth in ACME Solar’s operating assets, proven execution capabilities, and timely stabilization of projects. The company’s strategic refinancing of projects at lower borrowing costs has strengthened its operating cash flows. CRISIL also considered ACME Solar’s under-construction portfolio of 2.84 GW across solar, FDRE, hybrid, and wind projects, along with a 550 MWh standalone battery energy storage system (BESS) project, expected to be developed over the next two to three years.
With consolidated free cash and cash equivalents exceeding Rs 1,400 cr., including more than Rs 800 cr. at the standalone level, ACME Solar maintains a robust liquidity profile. This financial strength is expected to support equity requirements for upcoming projects and ensure timely execution.
The upgraded rating reinforces ACME Solar’s credibility in the renewable energy sector and reflects its strong liquidity, prudent capital management, and well-diversified asset base.
