Shares of ACME Solar Holdings Ltd surged sharply on Friday after the renewable energy company announced the commissioning of a large battery energy storage project and the signing of new long-term power purchase agreements. The stock jumped 6.92% to ₹256.70 per share, compared with its previous close of ₹240.08. During the session, the stock also climbed 9.46% intraday to touch a high of ₹262.80. As of 09:53 IST, the shares were trading at ₹256.70 on the BSE.
Over the past year, the stock has delivered strong returns to investors. It has risen 26.95% in the last one year and generated 48.69% returns from its 52-week low of ₹172.63 per share. The stock’s 52-week high stands at ₹324.30 per share, reflecting strong investor interest in the company’s renewable energy expansion strategy.
The company recently commissioned 142.67 MW / 481.49 MWh of Battery Energy Storage System (BESS) capacity in phase-1 of its broader energy storage deployment plan. This installation is part of the company’s total planned BESS capacity of 585 MW / 2,011.24 MWh, which is being developed through multiple special-purpose vehicles (SPVs).
The newly commissioned project is located in Rajasthan and forms an important component of the company’s long-term strategy to strengthen its energy storage capabilities. Overall, the company’s renewable portfolio currently requires the installation of approximately 17 GWh of BESS capacity across several phases and states.
These storage facilities are connected to the Inter-State Transmission System (ISTS) and will initially operate on a merchant basis in the short term. Under this model, the company aims to generate additional revenue by taking advantage of the price differential between peak and non-peak demand hours. Over time, the systems will be integrated with the company’s Firm and Dispatchable Renewable Energy (FDRE) projects that operate under Power Purchase Agreements (PPAs) with a tenure of 25 years.
The battery energy storage systems are designed to improve grid reliability and energy utilisation efficiency. The system works by charging batteries during periods of low electricity demand and discharging power during peak demand hours. This approach helps balance electricity supply and demand while enhancing overall grid stability and supporting the integration of renewable energy into the power system.
Earlier this week, the company’s stock gained further momentum after it signed 450 MW / 1,800 MWh power purchase agreements (PPAs) with SJVN Ltd through its subsidiary ACME Greentech Seventh Pvt Ltd. The agreements were signed on March 2, 2026, with a tenure of 25 years, strengthening the company’s long-term renewable power supply commitments.
The projects were awarded under the Tranche-FDRE-4 tender issued through Tariff-Based Competitive Bidding (TBCB) guidelines. The capacity was secured after an e-reverse auction held on October 9, 2025, following which the Letter of Award (LOA) was received on November 10, 2025. These projects will be connected to ISTS substations, allowing the generated renewable energy to be integrated into the national power grid.
A key feature of the project is the night-time connectivity available in the high-irradiation zones of Rajasthan, which benefits the company’s solar generation capabilities. Under the terms of the agreement, the company will provide four hours of assured peak power supply during non-solar hours.
In addition, the projects must maintain 90% availability on both a monthly and annual basis, ensuring a reliable electricity supply even when solar generation is not available.
With the signing of these agreements, ACME Solar Holdings Ltd has executed 1,690 MW of PPAs in the current financial year, taking its total PPA-signed capacity to 6,270 MW.
The company’s diversified renewable energy portfolio has expanded to 8,071 MW, covering solar, wind, energy storage, hybrid, and FDRE projects. Out of this total capacity, 2,966 MW is operational, while 5,105 MW is currently under construction.
The portfolio also includes approximately 17 GWh of battery energy storage installations, reinforcing the company’s capability to deliver firm and dispatchable renewable power.
The company continues to leverage its in-house Engineering, Procurement and Construction (EPC) and Operations and Maintenance (O&M) capabilities. This integrated model allows it to manage end-to-end project development, ensuring timely project delivery, cost efficiency, and a strong Capacity Utilisation Factor (CUF) along with improved operating margins.
In its Q3 FY26 financial results, ACME Solar Holdings Ltd reported a 1.5% year-on-year rise in consolidated net profit to ₹113.71 crore. During the same period, net sales increased 42.3% to ₹496.62 crore, reflecting strong growth in revenue from its expanding renewable energy portfolio.
The company currently has a market capitalisation of over ₹15,532 crore. Over the last year, the stock has gained 26.95%, while it has delivered 48.69% returns from its 52-week low of ₹172.63 per share, highlighting sustained investor confidence in the company’s long-term renewable energy growth strategy.
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