ACME Group has announced an ambitious goal to achieve Rs 10,000 crore in revenue from its solar module and cell manufacturing business by 2030. This is part of the company’s strategy to expand beyond renewable energy generation and strengthen its position in the manufacturing sector.
Headquartered in Gurgaon, ACME has already invested heavily in renewable equipment manufacturing, with an initial investment of Rs 230 crore. The company recently opened a solar module manufacturing plant in Jaipur, Rajasthan, with an annual production capacity of 1.2 Gigawatts. This facility employs more than 700 people and represents a significant step in ACME’s growth within the renewable energy sector.
Looking to the future, ACME plans to expand its manufacturing capacity and build a new solar cell manufacturing plant. This will be part of a new business division, ACME Renewable Equipment Manufacturing. The company has also earned a spot on the Ministry of New and Renewable Energy’s (MNRE) Approved List of Models and Manufacturers (ALMM). This recognition enhances ACME’s reputation and positions it to compete for government contracts, including those under SECI tenders, rooftop solar projects, and export opportunities.
Being part of the ALMM allows ACME to bid for various government projects, net-metering schemes, rooftop solar installations, and international contracts. The move also supports the government’s Make in India initiative, which promotes local production, reduces reliance on imports, and creates job opportunities. This initiative is in line with India’s renewable energy goals, ensuring that high-quality, domestically produced solar modules are used in installations across the country.
Manoj K Upadhyay, Chairman of ACME Group, commented, “Our entry into renewable equipment manufacturing aligns perfectly with the Make in India initiative. The new plant in Jaipur strengthens our control over the supply chain and helps reduce renewable energy costs.”
Industry experts predict that India’s solar module manufacturing capacity will increase from 80 GW in 2025 to 125 GW by 2030, with solar cell production growing from 25 GW to 40 GW in the same period. Government programs like ALMM, PM-KUSUM, and rooftop solar schemes are expected to drive demand, helping the country reach these targets. By 2030, it is anticipated that 25-32% of solar production will be exported.
ACME Cleantech Solutions, known as ACME Group, is a leader in the global sustainable and renewable energy sector. Founded in 2003 by Manoj K Upadhyay, the company is based in Gurugram, Haryana. Under Mr. Upadhyay’s leadership, ACME has become a pioneer in introducing advanced technology solutions, initially aimed at optimizing energy use in the telecom industry.
