Acme Solar Holdings has announced a capital expenditure plan of ₹17,000 crore for the first phase of its renewable energy projects in 2026, with an aim to achieve 10 GW of contracted capacity by 2030. CEO Nikhil Dhingra shared these details during a recent media interaction.
The company witnessed an 80% growth in its operational capacity in FY25 so far, expanding from 1,340 MW in FY24 to 2,540 MW. This includes the commissioning of 1,200 MW of Solar Energy Corporation of India (SECI) interstate transmission system (ISTS) projects, bringing its total contracted portfolio to 2,540 MW. Additionally, 450 MW of projects—300 MW solar and 150 MW wind—are in the advanced stages of construction. Currently, 67% of Acme Solar’s operational portfolio is with central offtakers, while 33% is tied to state utilities.
The company has also strengthened its financial position by reducing net debt by ₹2,070 crore through IPO proceeds. It secured ₹16,500 crore in debt financing for 1,700 MW of under-construction projects and refinanced operational projects at an average interest rate of 8.8% per annum, lowering debt costs by 70 basis points.
Acme Solar has obtained full grid connectivity for its 4,430 MW under-construction capacity, with an additional 2,000 MW earmarked for future bids. In the first nine months of FY25, the company achieved a plant availability of 99.4% and a capacity utilization factor of 23.7%, generating 2,499 million units of electricity. It continues to enhance performance through predictive maintenance, drone surveys, and string monitoring.
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