ACME Solar Holdings Limited plans to invest Rs 170 billion in capital expenditure in the financial year 2025-26 to expand its renewable energy capacity to 5,000 MW by 2027, focusing on hybrid and firm dispatchable renewable energy (FDRE) projects. The company aims to triple its current capacity to 7,000 MW by 2028, rolling out expansion in two phases beginning in April. While its primary focus remains on solar, wind, and hybrid energy, the company is also evaluating potential investments in nuclear energy, aligning with the government’s push for private sector involvement in nuclear power to help India reach its target of 100,000 MW of nuclear energy by 2047.
For the first nine months of financial year 2024-25, ACME Solar’s portfolio stood at 6,970 MW, with 2,540 MW operational and 4,430 MW under construction, nearly half of which are hybrid and FDRE projects. The operational capacity is expected to generate an annual earnings before interest, taxes, depreciation, and amortisation (EBITDA) of up to Rs 18 billion. Additionally, the company has invested approximately Rs 44 billion in a 1,200 MW inter-state transmission system-connected project in Jaisalmer, Rajasthan. To strengthen its financial position, ACME Solar has reduced its net debt by Rs 20.70 billion using IPO proceeds and secured Rs 165 billion in additional debt for 1,700 MW of hybrid and FDRE projects. Grid connectivity is in place for the 4,430 MW under construction, with a further 2,000 MW available for future bids.
In the third-quarter of financial year 2024-25, the company reported a 9.9 per cent year-on-year revenue increase to Rs 4.01 billion, with EBITDA rising by 15.7 per cent and net profit after tax growing by 152.1 per cent. The current operational capacity off-take is divided between central off-takers at 67 per cent and state off-takers at 33 per cent, highlighting rising renewable energy demand.