ACME Solar to expand to five GW by FY26 with Rs 17,000-cr investment

ACME Solar Holdings plans to expand its renewable energy capacity to 5 GW by March 2026, investing ₹17,000 crore starting April 2025. By FY27, the company aims to scale up to approximately 7 GW.

Its operational capacity grew from 1,340 MW in Q1 FY25 to 2,540 MW in Q2 FY25, with 67% allocated to central offtakers and 33% to state offtakers. Capacity utilization increased from 23.3% in H1 FY24 to 24.6% in H1 FY25, while plant availability improved from 99.2% to 99.3%.

Currently, ACME Solar’s portfolio is entirely solar-based, but ongoing projects include solar, wind, FDRE, and hybrid energy. The recent commissioning of a 1,200 MW inter-state transmission system-connected plant in Jaisalmer has significantly boosted operational capacity. Operating under a 25-year contract with the Solar Energy Corporation of India (SECI), the plant is fully solar-powered, with a capex of ₹4,400 per watt-hour. Adding one hour of storage (1,200 MWh) would require an additional ₹1,000 crore investment.

The company secured 1,900 MW in new capacity in FY25, increasing its total contracted portfolio to 6,970 MW. As of H2 FY25, its portfolio stands at 6,720 MW, comprising 2,540 MW operational and 4,180 MW under construction.

News by Rahul Yelligetti.