ACME Solar has announced a significant ₹17,000 crore investment plan for 2026. The funds will primarily be used to expand the company’s renewable energy capacity, with a focus on hybrid and 24/7 renewable energy projects. In addition, the company is exploring the possibility of entering the nuclear energy sector, although these plans are still in the early stages, as stated by the company.
The investment will help ACME Solar grow its renewable energy capacity to 5 GW by 2026. The company aims to further expand its capacity to 7 GW by 2028, tripling its current renewable energy output. CEO Nikhil Dhingra explained, “Our focus is on hybrid and firm, dispatchable renewable energy (FDRE) projects, as these can significantly improve both revenue and margins.”
FDRE projects combine renewable energy with storage systems to ensure a consistent and reliable supply of green energy, addressing the challenge of intermittent power generation. Dhingra mentioned that the company’s expansion will occur in two phases, starting in April this year.
As of the first nine months of FY25, ACME Solar’s total portfolio was 6,970 MW, with 2,540 MW already operational and 4,430 MW under construction. Around 49% of these projects fall under hybrid and FDRE categories.
The 2,540 MW that is currently operational is expected to generate an annualized EBITDA of up to ₹1,800 crore. The company’s power off-take is split between central and state buyers, with central buyers taking 67% and state buyers 33%. This reflects the growing demand for renewable energy from both levels of government.
ACME Solar also signs long-term power purchase agreements (PPAs) of 25 years, providing stability and reducing exposure to fluctuations in the merchant power market. Dhingra emphasized that the company is expanding its renewable portfolio not just in solar, but also in wind, hybrid, and FDRE solutions. These projects typically have shorter capital expenditure-to-revenue cycles, leading to faster returns.
Recently, ACME Solar invested ₹4,400 crore in a 1,200 MW inter-state transmission system in Jaisalmer, Rajasthan. The company has also made strides in reducing its net debt. After its IPO, ACME Solar reduced its net debt by ₹2,070 crore, while securing ₹16,500 crore in additional debt for its ongoing hybrid and FDRE projects, which total 1,700 MW.
The company has secured grid connectivity for 4,430 MW of its under-construction projects and has an additional 2,000 MW available for future bids. In addition to its work in solar, wind, and hybrid energy, Dhingra expressed interest in exploring investments in nuclear energy, particularly given the government’s efforts to encourage greater private sector involvement in the sector.
For the third quarter of FY25, ACME Solar reported a 9.9% increase in revenue year-on-year, reaching ₹401 crore. EBITDA grew by 15.7%, while net profit surged by 152.1%.
ACME Solar Holdings Limited is one of India’s leading renewable energy companies. It operates a diverse portfolio of solar, wind, hybrid, and FDRE projects. The company has an operational capacity of 2,540 MW and an under-construction capacity of 4,430 MW, making it one of the top 10 independent power producers in India’s renewable energy sector.
By selling electricity to government-backed buyers through long-term PPAs, ACME Solar generates stable cash flows. The company also ensures tight control over project processes, costs, and timelines through its in-house capabilities in engineering, procurement, and construction (EPC) and operations and maintenance (O&M).
